Asian stock markets is trading mixed on Monday, following the mixed cues from Wall Street on Friday, as traders remain cautious and restrained from making any significant moves after upbeat US data raised fears the US Fed will hold interest rates higher for longer to control inflation. Traders also picked up stocks at a bargain after the recent slump in the markets. Asian markets closed mostly lower on Friday.
Meanwhile, the People's Bank of China lowered its one-year loans prime rate by 10 basis points to a record low of 3.45 percent, but kept the five-year loan prime rate unchanged at 4.2 percent.
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