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China shares see worst month in six years | |
(about 2 hours later) | |
Mainland Chinese shares ended July with their biggest monthly loss in nearly six years. | |
The Shanghai Composite Index closed down 1.1% at 3,664, losing 10% over the week and more than 14% for the month. | |
The government took further action to calm the market on Friday with a crack down on automated trading. | |
It restricted 24 trading accounts in which it had detected what it called abnormal bids, moves it described as malicious selling. | |
Hong Kong's share market headed in the opposite direction, with the Hang Seng index finishing up 0.6% to 24,636.28 points. | |
Investors are looking ahead to China's official manufacturing data, which is expected to be released over the weekend. | |
A private manufacturing report last week showed a surprise drop, prompting a plunge in mainland China's shares earlier this week. | |
Inflation worries | Inflation worries |
In Japan, shares were held back as data showed inflation stalling and an unexpected fall in household spending. | In Japan, shares were held back as data showed inflation stalling and an unexpected fall in household spending. |
The country's benchmark Nikkei 225 index closed slightly higher at 20,585.24 points, up 0.3%. | The country's benchmark Nikkei 225 index closed slightly higher at 20,585.24 points, up 0.3%. |
Japan's inflation in June remained at 0.4% while household spending dropped by 2%, significantly more than expected. | Japan's inflation in June remained at 0.4% while household spending dropped by 2%, significantly more than expected. |
The weak data is likely to revive deflation fears and increase the pressure for more fiscal policy and monetary easing. | The weak data is likely to revive deflation fears and increase the pressure for more fiscal policy and monetary easing. |
Shares in technology giant Sony fell by 1.5% despite the company releasing strong results on Thursday after the Japanese stock market had closed. | Shares in technology giant Sony fell by 1.5% despite the company releasing strong results on Thursday after the Japanese stock market had closed. |
The company saw its net profit more than triple in the April-to-June quarter, helped by strong sales of its PlayStation 4 games and camera sensors. | The company saw its net profit more than triple in the April-to-June quarter, helped by strong sales of its PlayStation 4 games and camera sensors. |
In South Korea, positive data on business confidence and industrial production lifted shares. | In South Korea, positive data on business confidence and industrial production lifted shares. |
The Kospi index closed 0.5% higher at 2,030.16 points. | The Kospi index closed 0.5% higher at 2,030.16 points. |
Australia's ASX 200 finished 0.5% up at 5,699.20 points. | Australia's ASX 200 finished 0.5% up at 5,699.20 points. |