SHANGHAI - Asian markets were slightly higher as China took the next, critical step in a long-awaited money management reform, and as the United States gave the Chinese tech company Huawei a slight reprieve in Washington's ongoing trade war with Beijing.
Hong Kong's Hang Seng Index was up 0.1% after being lower earlier in the day.
On Tuesday morning the People's Bank of China set its new Loan Prime Rate at 4.25% slightly lower than its existing benchmark one-year lending rate, which hasn't changed in years.
The LPR is supposed to better reflect changes in market rates, and has been described as effectively a rate cut.
It showed the policymakers believe it's "reasonable" for interest rates to stay low for an extended period to support economic growth.