DHAKA: Shares in Asia are largely expected to sit in positive territory on Monday after Beijing cut its one-year benchmark interest rate by 0.25% to 4.35%.

Beijing hopes that loosening its monetary policy, in the shape of cheaper money, will help it hit its growth target of 7% for 2015.

Last week, China reported its economic growth had slowed to a sixth year low.

Japan's Nikkei 225 was up 1.25% % at 19,060.11 in mid-mid morning trade.

Shortly after opening, Hong Kong’s Hang Seng index was up 0.76% at 23,322.81, while the Shanghai Composite was up 0.96% at 3,445.24.

Australia’s benchmark index the S&P/ ASX 200 was up 0.24% at 5,364.60, and South Korea’s, benchmark Kospi index was 0.22% at 2,044.15 points.

China’s latest move is also expected to put further pressure on the US Federal Reserve to hold off on raising rates at their meeting this week.

BDST: 1301 HRS, OCT 26, 2015
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