Asia Markets Mixed Ahead of China's Loan Prime Rates Decision
The decision, due out Wednesday, could provide more clues on how quickly Beijing will act to support its economy as the trade war with the U.S. drags on. China will announce its loan prime rates on Wednesday, which will give clues on how quickly Beijing will act to support its economy in the midst
China's last reduction to its LPRs was in August 2022. Investors have in the past rewarded both parties. Tesla's and Ford’s shares both soared by 4,7% and 6,2% respectively the day after the agreement. Since then, the stock prices of both automakers have risen by more than 25 percent.
CNBC Pro: A veteran investor's fund has outperformed since 2006. Cvetanovski, of Pella Funds Management, managed a fund that beat its benchmark by 27% over a period of four years.
The S&P500 gained 2.6% on the week. This is its best weekly performance since the month of March, and it's the fifth consecutive positive week -- the first time since November 2021 when the S&P 500 ended a similar streak. The Nasdaq, which is dominated by tech stocks, gained 3.25% for the week. This was its highest weekly gain since March. It also marked the eighth consecutive positive week since the end of a 10-week streak back in March 2019.
CNBC
Brian Evans