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Chinese shares surge after week-long holiday | |
(about 1 hour later) | |
Mainland Chinese shares rallied to close 3% higher after reopening from a week-long public holiday. | |
The benchmark Shanghai Composite ended at 3,144.23 after recording its biggest rise in two trading weeks. | |
Analysts said the index was catching up with the rally in global markets as the prospect of an interest rate increase in the US this year has dimmed. | |
However, the rebound may be short-lived with economic data and third-quarter company earnings on the way. | |
September's economic data and third-quarter growth figures, due in the next two weeks, are expected to show more signs of a slowdown in China's economy. | |
Hong Kong's Hang Seng index closed down 0.7% at 22,354.91 as investors took profits following an 8% rally over the past week. | |
Japan machinery orders | |
Shares in Japan closed lower after figures showed that Japanese firms cut their spending on machinery in August. | Shares in Japan closed lower after figures showed that Japanese firms cut their spending on machinery in August. |
Core machinery orders, a leading indicator of capital expenditure, fell by 5.7% in August, compared with expectations for a rise of 3.2%. | Core machinery orders, a leading indicator of capital expenditure, fell by 5.7% in August, compared with expectations for a rise of 3.2%. |
Japan's Nikkei 225 index closed down 1% at 18,141.17. | |
Global investors were also absorbing a warning from the IMF, which said on Wednesday that "global financial stability is not yet assured". | Global investors were also absorbing a warning from the IMF, which said on Wednesday that "global financial stability is not yet assured". |
Senior IMF official Jose Vinals said financial stability in advanced economies had improved, but risks had moved towards emerging economies. | Senior IMF official Jose Vinals said financial stability in advanced economies had improved, but risks had moved towards emerging economies. |
In Australia, the S&P/ASX 200 closed up 0.2% at 5,210.40. Energy-related shares made gains, with stocks in mining giant BHP closing up 3% following a rebound in the firm's London-listed shares. | |
South Korea's Kospi index closed up 0.7% at 2,019.53. | |