CHINA ECONOMY

Asian stock markets face setback amid China's small lending rates

epa10811382 People walk on a pedestrian bridge with a screen showing stock exchange data, in Shanghai, China, 21 August 2023. Asian markets faced a setback on 21 August as China's reduction in lending rates proved to be smaller than anticipated. This extends Beijing's trend of providing stimulus measures that are more conservative than expected. The one-year loan prime rate (LPR) experienced a ten basis points reduction by the People's Bank of China, whereas the unchanged five-year rate, employed in calculating mortgage expenses, remained steady. EPA/ALEX PLAVEVSKI

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