Stocks in Asia Pacific were mixed in Wednesday morning trade as investors await the release of China’s benchmark lending rate.
Over in Australia, the S&P/ASX 200 declined 0.81%.
Overall, the MSCI Asia ex-Japan index traded 0.18% lower.
The monthly fixing of China’s loan prime rate is set to be released at around 9:30 a.m. HK/SIN on Wednesday, with little expectation for the benchmark lending rate to change, according to a Reuters survey of traders and analysts.
Investors also watched for market reaction to a STAT News report released overnight that raised concerns about the trial results for a potential coronavirus vaccine from Moderna. That initial positive development had sent markets rallying earlier in the week.
Overnight on Wall Street, the Dow Jones Industrial Average dropped 390.51 points, or 1.6%, to close at 24,206.86. The S&P 500 ended its trading day 1.1% lower at 2,922.91 while the Nasdaq Composite lost 0.5% and closed at 9,185.10.
The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 99.554 following its decline from levels above 100 earlier in the week.
Oil prices were lower in the morning of Asian trading hours, with international benchmark Brent crude futures down 0.35% to $34.53 per barrel. U.S. crude futures also dipped 0.47% to $31.81 per barrel.
What’s on tap for Wednesday:
- China: One-year and five-year loan prime rate expected at 9:30 a.m. HK/SIN