Yen Rebounds Amid Political Turmoil; China Holds Rates Steady
Japan's yen defied expectations with a 0.22% surge against the dollar, climbing to 148.49 despite the ruling party's election loss. The currency's two-week slide reversed as global instability reignited its safe-haven appeal. Investors pivoted to the yen as Washington's trade pressures and regional volatility dominated Monday's Asian open.
China maintained its loan prime rates unchanged, signaling policy caution as the offshore yuan held flat at 7.1788. Hong Kong and mainland stocks edged higher, with the Hang Seng gaining 0.55% and CSI 300 up 0.28%, reflecting tempered Optimism amid Beijing's stimulus restraint.