Asia stocks edge higher as China keeps its loan prime rate unchanged [CNBC]
FAST RETAILING UNSP/ADR (FRCOY)
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Source: CNBC
Stocks in Asia were mostly higher in Monday morning trade, with the People's Bank of China (PBoC) keeping the loan prime rate (LPR) unchanged. Mainland Chinese stocks saw gains, with the Shanghai composite up more than 0.1% while the Shenzhen composite was 0.144% higher. The Shenzhen component also gained 0.31%. The Hang Seng index in Hong Kong, however, slipped fractionally as shares of life insurer AIA dropped more than 1%. The moves came as the People's Bank of China kept the one year and five year loan prime rates unchanged for January. "We still expect some changes to the LPR at some point this year, even though we're not seeing that as early as like the first month of the year right now," Kevin Leung, executive director of investment strategy at Haitong International Securities, told CNBC's "Street Signs" on Monday. "The phase one of the trade deal has been ... signed right now, so i think (the Chinese authorities) would take a few months to see if anything is going on or if the
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