Asia markets mixed as China leaves loan rates unchanged; U.S. debt ceiling talks to resume

 is is CNBC’s live blog covering Asia-Pacific markets.

The People’s Bank of China (PBOC) building in Beijing, China, on Tuesday, April 18, 2023.

Bloomberg | Bloomberg | Getty Images

Asia-Pacific markets traded mixed on Monday after the Group of Seven summit in Hiroshima concluded and talks on the debt ceiling are slated to resume in the U.S.

Hong Kong’s Hang Seng index rose 0.16%, while the Hang Seng Tech index also rose 0.39%. In mainland China, the Shanghai Composite slid 0.15% and the Shenzhen Component was 0.44% lower as the People’s Bank of China left its 1-year and 5-year loan prime rates unchanged.

South Korea’s Kospi reversed earlier losses earlier and gained 0.78%, and the Kosdaq rose 0.8%.

Japan’s markets also erased earlier losses, with the Nikkei 225 gaining 0.11% and the Topix rising 0.14% following its outperformance last week. In Australia, the S&P/ASX 200 was 0.25% lower.

TICKER	COMPANY	NAME	PRICE	CHANGE	%CHANGE
.N225	Nikkei 225 Index	*NIKKEI	30833.94	25.59	0.08
.HSI	Hang Seng Index	*HSI	19741.74	291.17	1.5
.AXJO	S&P/ASX 200	*ASX 200	7255.9	-23.6	-0.32
.SSEC	Shanghai	*SHANGHAI	3295.1	11.56	0.35
.KS11	KOSPI Index	*KOSPI	2560.32	22.53	0.89
.FTFCNBCA	CNBC 100 ASIA IDX	*CNBC 100	8314.53	45.21	0.55

Stocks on Wall Street fell on Friday as talks on the U.S. debt ceiling were halted by GOP negotiators, stoking doubt of a deal being reached soon while the S&P 500 recorded its best week since March. The Dow Jones Industrial Average fell 0.33%, and the Nasdaq Composite was down 0.24%.

U.S. Federal Reserve chairman Jerome Powell meanwhile said that interest rates may not have to rise as much as expected to curb inflation, given current banking sector stresses.

— CNBC’s Sarah Min and Samantha Subin contributed to this report

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Shares of Chinese chipmakers rise after China bars some purchases on Micron products

Shares of Chinese chipmakers largely rose after China’s Cyberspace Administration said it would bar operators of key infrastructure from buying products from U.S. memory producer Micron.

Hong Kong-listed Hua Hong Semiconductor rose as much as 3.14% on Monday, while SMIC rose 2.64%.

Other memory chip producers in mainland China like GigaDevice Semiconductor and Ingenic semiconductor also saw gains of up to 3.74% and 8.08% respectively.