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China shares up on new market boosting measures | |
(about 1 hour later) | |
Mainland Chinese shares continued their way higher as more measures to strengthen the market from its recent rout encouraged investors to return. | |
The Shanghai Composite was up 1.5% to 3,934.37 after gaining more than 10% in the previous two sessions. | |
The latest measures from regulators involved cracking down on "grey-market" margin lending, which is flooding the market with leveraged stock bets. | |
They will also clamp down on investors creating fake trading accounts. | |
Regulators said some institutions and individuals were opening fake accounts using other people's identities. | |
In Hong Kong, the Hang Seng index bucked the trend to head lower, down 0.9% to 24,687.46. | |
Greece deal hopes | |
Asian shares were higher on hopes for a deal for Greece despite an emergency summit ending again with no resolution and more deadlines in the debt crisis. | Asian shares were higher on hopes for a deal for Greece despite an emergency summit ending again with no resolution and more deadlines in the debt crisis. |
Uncertainty about Greece's future in the bloc led to the euro to fall initially, down to $1.09. But it recovered losses to trade at $1.1134. | Uncertainty about Greece's future in the bloc led to the euro to fall initially, down to $1.09. But it recovered losses to trade at $1.1134. |
The Nikkei was up 1% at 19,980.29. | |
The euro fell 1% to a low of 135.45 Japanese yen in early trade, but bounced up to 136.35 on rumours that the European Central Bank had agreed to delay a Greek repayment of 3.5bn euros, which had been due on 20 July. | The euro fell 1% to a low of 135.45 Japanese yen in early trade, but bounced up to 136.35 on rumours that the European Central Bank had agreed to delay a Greek repayment of 3.5bn euros, which had been due on 20 July. |
In Australia, the S&P/ASX 200 index was up 0.2% to 5,504.30, while South Korea's Kospi index was higher 0.2% to 2,036.09. | |
Shares of Hotel Shilla was up 2.7% after it and partners Hyundai Development Engineering & Construction and Hanwha Galleria Timeworld won licences to operate duty-free stores in downtown Seoul. | |