Asia-Pacific markets mostly set to rise; China loan prime rates and RBA minutes in focus

Asia-Pacific markets are set to mostly rise on Tuesday, tracking Wall Street’s rally and ahead of key economic data from China.

China’s central bank will announce its one-year and five-year loan prime rates, with a poll of economists from Reuters expecting that the one-year LPR will be held at 3.35% and the five-year rate at 3.85%.

The one-year LPR acts as the benchmark for most corporate loans, and the five-year LPR serves as a reference rate for mortgages.

Investors will also be assessing minutes from the Reserve Bank of Australia’s Aug. meeting. At the meeting on Aug. 7, the bank kept its benchmark interest rate at 4.35%, but noted that “inflation remains above target and is proving persistent.”

Futures for Australia’s S&P/ASX 200 stood at 7,963, slightly lower than its last close of 7,980.

Japan’s Nikkei 225 futures pointed to a rebound for the market after snapping a five day winning streak, with the futures contract in Chicago at 37,950 and its counterpart in Osaka at 37,800 compared to the previous close of 37,388.62.

Hong Kong Hang Seng index futures also point toward a higher open, standing at 17,741 compared to the HSI’s last close of 17,569.57.