Chinese Market Edge Lower Modestly

Asian stocks ended mixed on Thursday as France's political crisis fueled jitters and investors look ahead to a slew of central bank decisions.

Chinese markets ended modestly lower as the People's Bank of China left benchmark lending rates unchanged at a monthly fixing and the central bank governor warned of weaker credit growth.

The People's Bank of China kept its one-year loan prime rate unchanged at 3.45 percent. Similarly, the five-year LPR, the benchmark for mortgage rates, was retained at 3.95 percent. The five-year LPR was last lowered by 5 basis points in February to support the property market.

The benchmark Shanghai Composite Index dropped 0.4 percent to 3,005.44 on concerns about a slowing property market. Hong Kong's Hang Seng Index fell 0.5 percent to 18,335.32, dragged down by financial and tech stocks.

 

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