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| Version 0 | Version 1 |
|---|---|
| Chinese shares down in volatile trade | Chinese shares down in volatile trade |
| (35 minutes later) | |
| Mainland China shares continued lower, falling as much as 3.5% on Friday after plunging nearly 7% a day earlier. | Mainland China shares continued lower, falling as much as 3.5% on Friday after plunging nearly 7% a day earlier. |
| The Shanghai Composite was down 1.2% to 4,565.25 with analysts citing a number of reasons for the drop including some brokerages tightening lending requirements on margin financing. | The Shanghai Composite was down 1.2% to 4,565.25 with analysts citing a number of reasons for the drop including some brokerages tightening lending requirements on margin financing. |
| Another wave of new share offerings due next week is also expected to remove liquidity from the market. | Another wave of new share offerings due next week is also expected to remove liquidity from the market. |
| A state-owned investment firm also said it sold shares in the top four banks. | A state-owned investment firm also said it sold shares in the top four banks. |
| Central Huijin Investment confirmed it sold some mainland-listed shares in China's top four banks and other financial institutions, along with Exchange Traded Funds (ETFs). | |
| News of the sale was cited by traders as one factor behind a plunge in Chinese shares. | |
| Hong Kong's Hang Seng index was down 0.3% to 27,362.82. | Hong Kong's Hang Seng index was down 0.3% to 27,362.82. |
| The mainland benchmark index has surged over 140% in the past 12 months despite a slowing Chinese economy. | The mainland benchmark index has surged over 140% in the past 12 months despite a slowing Chinese economy. |
| Japanese economic data | Japanese economic data |
| Shares in Japan nudged higher after government data gave conflicting messages about the economy. | Shares in Japan nudged higher after government data gave conflicting messages about the economy. |
| Inflation was roughly flat in April with core consumer prices rising 0.3%, while household spending was down 1.3% from a year ago. Economists had been expecting spending to rise. | Inflation was roughly flat in April with core consumer prices rising 0.3%, while household spending was down 1.3% from a year ago. Economists had been expecting spending to rise. |
| However, the jobless rate fell to 3.3% from 3.4% in March, while industrial output rose 1% - rising for the first time in three months. | However, the jobless rate fell to 3.3% from 3.4% in March, while industrial output rose 1% - rising for the first time in three months. |
| The Nikkei was up 0.1% to 20,566.57. | The Nikkei was up 0.1% to 20,566.57. |
| Traders say the benchmark index is taking a breather after rising for the past 10 days in its longest winning streak since 1988. | Traders say the benchmark index is taking a breather after rising for the past 10 days in its longest winning streak since 1988. |
| In Australia, the S&P/ASX 200 was up nearly 1.2% to 5,781.5, boosted by commodity stocks. | In Australia, the S&P/ASX 200 was up nearly 1.2% to 5,781.5, boosted by commodity stocks. |
| A weaker US dollar has helped copper and aluminium recover some losses, while iron ore prices held steady. | A weaker US dollar has helped copper and aluminium recover some losses, while iron ore prices held steady. |
| Shares of heavyweight miners BHP Billiton and Rio Tinto were up 0.6% and 1.2% respectively. | Shares of heavyweight miners BHP Billiton and Rio Tinto were up 0.6% and 1.2% respectively. |
| South Korean shares were higher with the benchmark Kospi up 0.4% to 2,118.77. | South Korean shares were higher with the benchmark Kospi up 0.4% to 2,118.77. |
| Investors appeared to ignore data that showed industrial production fell in April for a second month in a row - declining by a seasonally adjusted 1.2% after falling 0.3% in March. | Investors appeared to ignore data that showed industrial production fell in April for a second month in a row - declining by a seasonally adjusted 1.2% after falling 0.3% in March. |