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Asian shares mixed as oil prices fall back; China cuts rate

Asian shares mixed as oil prices fall back; China cuts rate

Asian markets were mixed in early trading Monday, after China cut its benchmark lending rates to help cushion the impact of the pandemic on its economy. China’s one-year loan prime rate was lowered by 20 basis points from 4.05% to 3.85%, while the 5-year rate was cut by 10 basis points, from 4.75% to 4.65%. Benchmarks rose Monday in Hong Kong and Shanghai but fell in Tokyo. Oil prices were lower.

Chris
Chris
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