Equity

The advances followed a decision by the People’s Bank of China to maintain its benchmark lending rates for the 16th consecutive month. The one-year loan prime rate held steady at 3.0%, as did the five-year loan prime rate, which remained at 3.5%.

Market participants are also assessing the economic ramifications of the Middle East conflict. Although exports are bolstered by robust demand associated with artificial intelligence, decelerated expansion, subdued inflation, and diminished credit appetite may still afford scope for a rate reduction later this year.