24H | China ADRs Rise. YINN, XPeng up More Than 2%; NIO, CHAU, JD.com, Alibaba up around 1%
China ADRs gained in overnight traidng. YINN, XPeng up more than 2%; NIO, CHAU, JD.com up over 1%.
China held benchmark lending rates steady on Monday for the sixth successive month, matching market expectations.
The one-year loan prime rate (LPR) was kept at 3.1%, while the five-year LPR was unchanged at 3.6%.
In a Reuters poll of 31 market participants conducted last week, 27, or 87%, expected no change to either of the rates.
Most new and outstanding loans in China are based on the one-year LPR, while the five-year rate influences the pricing of mortgages.
In October 2024, lenders slashed lending benchmarks by bigger-than-expected margins to revive economic activity.
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