Asia markets trade mixed after China keeps key lending rates steady

Asia-Pacific markets traded mixed Monday, after the People's Bank of China stood pat on its 1-year and 5-year loan prime rates.

Investors were also assessing the latest developments on the trade front, as they came into focus once again over the weekend when the White House reiterated its position on tariffs.

U.S. Commerce Secretary Howard Lutnick Sunday called Aug. 1 the “hard deadline” for countries to start paying tariffs, although he also added that “nothing stops countries from talking to us after August 1.”

Here's a live snapshot of how markets are faring:

Chinese yuan trades flat against greenback after PBOC decision

The Chinese yuan and offshore yuan traded flat against the greenback on Monday, after the People's Bank of China stood pat on its key holding rates for July.

As at 9.50 a.m. local time (9.50 p.m. ET Sunday), the offshore yuan had weakened by 0.02% against the U.S. dollar to 7.1788.

Chinese and Hong Kong stocks rise in early trade

Chinese and Hong Kong-listed stocks started the day higher Monday, after China's central bank stood pat on its key lending rates

As of 9:42 a.m. local time (9:42 p.m. ET Tuesday), the Hang Seng Index added 0.55%, while mainland'sCSI 300 moved up 0.28%.

China holds key lending rates as softening consumer sentiment persists in worlds second largest economy

China kept its benchmark lending rates steady Monday as the country continues to grapple with weak consumer sentiment and softening growth.

The People's Bank of China held the 1-year loan prime rate at 3.0% and the 5-year LPR at 3.5%.

LPR, normally charged to banks' best clients, is calculated based on a survey of dozens of designated commercial banks that submit proposed rates to the central bank.

Asia-Pacific markets open mixed

South Korean markets started the day higher Monday.

As of 8.10 a.m. Singapore time (8.10 p.m. ET Sunday), the Kospi index rose 0.45%, while the small-cap Kosdaq was flat.

Meanwhile, Australia's S&P/ASX 200 benchmark was flat.

Japanese markets were closed for the Marine Day public holiday.

Here are the opening calls for the day

Good morning from Singapore.

Investors will be keeping a close watch on the People's Bank of China's decision on its 1-year and 5-year loan prime rates for July expected later in the day.

Futures for Hong Kong's Hang Seng index stood at 24,883, pointing to a stronger open compared with the HSI's Friday close of 24,825.66.

Australia's S&P/ASX 200 was set to start the day lower with futures tied to the benchmark at 8,688, compared with its last close of 8,757.20.

Japanese markets were closed for a public holiday.

U.S. futures little changed in early Asia hours

U.S. equity futures fell in early Asia hours as investors tracked the latest developments in trade and awaited big tech earnings this week.

S&P 500 futures moved up 0.06%, while Nasdaq 100 futures ticked up 0.08%. Futures for the Dow Jones Industrial Average added 24 points or 0.05%.

S&P 500, Dow end Friday in the red

The S&P 500 and Dow Jones Industrial Average ended Friday in the red, with stocks turning lower in afternoon trading as tariff fears took over.

The 30-stock Dow lost 142.30 points, or 0.32%, ending at 44,342.19. The S&P 500 inched 0.01% lower to close the session at 6,296.79.The tech-heavy Nasdaq Composite added just 0.05% to settle at 20,895.66.