Macro & economy RegionChina & Asia-Pacific Impact Notable
China holds LPRs, yuan fix strongest since Feb 2023
What happened
China held its loan prime rates (LPRs) steady and set the yuan fix at its strongest since February 2023. This follows Q3 GDP growth of 4.5% y/y, beating the 4.4% forecast, and September retail sales rising at the fastest pace since March.
What it means for markets
The steady LPRs and stronger yuan fix, combined with the GDP beat, support China-exposed equities and the yuan. A weaker fix or rate cut would have signaled concern, but the current stance may lift risk appetite tied to Chinese demand.
AssetExpectedMove since first report
China large caps FXI Steady LPRs and stronger yuan fix after GDP beat support China large-cap equities
▲ Up
-2.25% 33.84 (2026-10-16) → 33.08 (2026-10-30)
China internet KWEB GDP beat and retail sales growth boost China internet stocks
▲ Up
-6.84% 24.41 (2026-10-16) → 22.74 (2026-10-30)
What to watch
- Any further property policy response after new home prices fell again in September
Source timeline
- investingLive New Zealand inflation slows to 3.7% in Q3, below forecasts, keeping RBNZ hike on track
- investingLive New Zealand Q3 CPI 3.7% y/y (expected 3.8%, prior 4.1%)
- Reuters Japan shifting to wage-driven inflation phase, finance minister says
- investingLive investingLive Asia-Pacific market news: China holds rates
- investingLive investingLive Asia-Pacific market news: China beats, the euro wobbles and oil dips
- Reuters China's new home prices fall again as recovery remains elusive
- investingLive China Q3 GDP beats forecasts at 4.5%, retail sales grow at fastest pace since March
- investingLive China moves to prop up stocks with selling curbs, buybacks after 10% slide this year
- investingLive China Q3 GDP beats estimates, as does September retail sales
- investingLive China home price declines ease in September, ahead of Q3 GDP seen at 4.4%
- investingLive China data preview: industry holds up, consumers and property lag ahead of Q3 GDP