Several Chinese developers issued profit warnings while the People’s Bank of China lowered its one-year loan prime rate by five basis points to 3.65%.
The five-year loan prime rate was lowered by 15 bps to 4.30%. The approval rating of Japan’s cabinet office fell to a record low of 36%. South Korea’s exports through the first 20 days of August were up 3.9% yr/yr while chip exports were down 7.5% yr/yr.
Economic data was limited:
Hong Kong’s July CPI 1.9% yr/yr (expected 2.0%; last 1.8%)