Asian Markets Closed Higher on Thursday.
London, Thursday, 20 January 2022
Following China's interest rate cut and Japan's record high foreign trade numbers, Asian stock markets closed mainly higher on Thursday.
For the second month in a row, the People's Bank of China reduced its benchmark lending rates for corporate and family loans to cushion a slowing economic recovery.
The one-year loan prime rate (LPR) was cut by ten basis points to 3.7 percent, down from 3.8 percent.
According to preliminary figures issued by the Finance Ministry on Thursday, Japan recorded record high exports and imports in December, driven by stronger demand for cars and higher energy prices.
Exports increased by 17.5 percent to 7.9 trillion yen ($69 billion) year on year, while imports increased by 41.1 percent to 8.5 trillion yen ($74 billion).
(Written and edited by: The Decision Maker)