Asia-Pacific markets experienced an uptick on Monday as investors analyzed the decision of China’s central bank to maintain its loan prime rates at current levels. The People’s Bank of China maintained its 1-year and 5-year loan prime rates at 3% and 3.5% respectively, marking the seventh consecutive meeting without change, consistent with a Reuters survey. The one-year rate plays a pivotal role in determining the terms of both new and existing loans, whereas the five-year benchmark is primarily significant for mortgage rates.

Hong Kong’s Hang Seng index increased by 0.55%, whereas the mainland CSI 300 saw a rise of 0.95%, concluding at 4,611.62. Australia’s S&P/ASX 200 experienced an increase of 0.91%, concluding the trading day at 8,699.9. Japan’s Nikkei 225 experienced an increase of 1.81%, reaching 50,402.39, while the Topix saw a rise of 0.64%, settling at 3,405.17. The Bank of Japan increased its policy rate by 25 basis points to 0.75%, marking a three-decade high, last Friday.

South Korea’s Kospi experienced an increase of 2.12%, reaching a level of 4,105.93, while the small-cap Kosdaq saw a rise of 1.52%, settling at 929.14. U.S. futures experienced a modest uptick on Monday during the early hours in Asia, as the market anticipates a holiday-shortened week ahead.

On the previous Friday in the United States, equities experienced an uptick for the second consecutive day, propelled by Oracle, as the artificial intelligence sector stabilized following a period of volatility. Oracle shares experienced a 6.6% increase following TikTok’s agreement to divest its U.S. operations to a newly formed joint venture that encompasses the software company and private equity firm Silver Lake. The Nasdaq Composite experienced an increase of 1.31%, concluding the session at 23,307.62. The S&P 500 experienced an increase of 0.88%, concluding the session at 6,834.50. The Dow Jones Industrial Average increased by 183.04 points, representing a rise of 0.38%, concluding at 48,134.89.