Asian Markets Firm Amid PBOC Steadfastness, Tech Sector Momentum
Asian markets showed resilience in trading on Monday, with most major indices trending higher despite mixed sentiment on Wall Street. The PBOC's decision to leave its Loan Prime Rates (LPR) unchanged at 3.0% and 3.5% respectively for the 16th straight month was seen as a steady hand, offsetting concerns over rising Treasury yields.
The strong tech sector momentum on Wall Street helped to drive gains in U.S. equity futures, with Nasdaq futures rising 0.60%, S&P 500 futures gaining 0.43%, and Dow futures adding 0.37%. The South Korean KOSPI rallied for a second straight session, up 1.67% to around 6,995, driven by strong global semiconductor momentum.
Bitcoin (BTC) continued its upward trend, advancing toward $82,000 as institutional inflows drove renewed interest in the digital asset. Spot gold traded above $4,350 per ounce, while crude oil slipped to near $98 per barrel.