Mixed trend in Asian stock markets due to China's interest rate move

Asian markets mixed as China cuts key lending rates Asia-Pacific markets were mixed on Tuesday as investors digested China’s central bank’s decision to cut one-year and five-year lending rates by 10 basis points to 3.55% and 4.20% respectively. The move comes after the central bank cut some of its key lending rates last week. Mainland Chinese markets were mixed after the announcement, with the Shanghai Composite Index falling 0.22% and the Shenzhen Component Index rising 0.24%. Hong Kong’s Hang Seng index fell 0.5%. Australia’s S&P/ASX 200 rose 0.32%, extending gains from Monday as the Reserve Bank of Australia released the minutes of its June meeting. Japan’s Nikkei 225 reversed earlier losses and rose 0.17%, while the Topix lost 0.36%. South Korea’s Kospi also fell 0.34 percent, continuing its slide from Monday, while the Kosdaq lost 0.2 percent. U.S. markets were closed Monday for the Juneteenth holiday, but stock futures started the week lower as investors looked forward to a shortened trading week due to the holiday. Futures tied to the Dow Jones Industrial Average fell 0.26 percent, while S&P 500 futures fell 0.16 percent. Nasdaq 100 futures fell 0.15 percent.