Europe Asia News

The People’s Bank of China left the one-year and five-year loan prime rates unchanged at 3% and 3.5%, respectively, for the seventh consecutive meeting. The one-year rate affects most new and existing loans, while the five-year benchmark rate influences mortgages.

Hong Kong’s Hang Seng Index rose 0.55%, while mainland China’s CSI 300 gained 0.55%. Australia’s S&P/ASX 200 advanced 0.54%.

Japan’s Nikkei 225 climbed 1.58% and the Topix rose 0.86%. The Bank of Japan raised its policy rate by 25 basis points to 0.75% last Friday, the highest level in 30 years. South Korea’s Kospi gained 1.83%, while the small-cap Kosdaq rose 0.99%.

In the US, stocks rose for a second straight day last Friday, supported by Oracle, as AI-related trading rebounded after volatility.

Oracle shares jumped 6.6% after TikTok agreed to sell its US operations to a new joint venture that includes the software giant and private-equity investor Silver Lake.

The Nasdaq Composite closed up 1.31% at 23,307.62. The S&P 500 ended 0.88% higher at 6,834.50. The Dow Jones Industrial Average rose 183.04 points, or 0.38%, to close at 48,134.89.