Asian shares were mixed as investors waited for further trading catalysts. Gold touched a record high as Middle-East tensions stoked demand and investors positioned for the US presidential election.
China’s CSI 300 Index climbed after the nation’s banks cut their benchmark lending rates, adding to optimism over recent stimulus measures. Shares also advanced in South Korea, Taiwan and Australia, but fell in Hong Kong.
US equity futures were little changed after the S&P 500 notched up a sixth straight weekly increase, boosted by corporate earnings and signs of economic resilience.
Financial markets are being shaped by wagers on the health of the US and Chinese economies on the one hand, and the impact of hostilities in the Middle East and geopolitics on the other.
The decision by Chinese banks to cut lending rates came after officials have implemented a series of measures to revive economic growth and bolster the housing market.
China’s banks lowered their one-year loan prime rate, on which most new and outstanding loans are based, to 3.10% from 3.35%, and reduced the five-year gauge to 3.60% from 3.85%.
