Asian Equities Pare Gains on Weak China Concerns – Asia Market Wrap

Asian stocks fell from session highs as worries over China’s struggling economy dragged the country’s equity market.

A barometer of Asian shares more than halved its previous advance after benchmark indexes in Hong Kong and China sank. China’s commercial lenders held their benchmark lending rates steady Monday, in accordance with the central bank’s decision last week not to reduce borrowing costs.

OPEC member Libya restarted production from its largest field, outweighing concerns about Middle East tensions, and shares in Japan and Taiwan rose after the S&P 500 reached a 2-Yr high on Friday, led by the technology sector. US stock futures also extended gains in Asia.

The Bank of Japan began a two-day policy meeting on Monday, and its settings are expected to remain unchanged when the results are announced on Tuesday.