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China shares gain on reports of more funding measures | |
(about 5 hours later) | |
Mainland Chinese shares made solid gains after reports that a government agency and Chinese funds are looking to add billions into the stock market. | |
The agency tasked with buying stocks to prop up the market is looking for another $322bn (£207bn) in funds, according to Bloomberg. | |
Local reports also said that close to 300 Chinese funds were waiting on the sidelines to enter the market. | |
The Shanghai Composite index rose 1.7% to 3,723.79. | |
In Hong Kong, the Hang Seng index was up 0.8% at 24,578.45. | |
Shares in China Railway Signal & Communication Corp (CRSCC) rose 0.5% on its market debut. The company - which is the world's largest builder of rail traffic control systems - raised $1.4bn (£902m) through a flotation to help grow its business. | |
US jobs data | |
Trading in the rest of Asia was mixed, with investors remaining cautious ahead of key US jobs data due out later. | |
July's non-farm payrolls figure could give a strong pointer as to when the Federal Reserve will raise interest rates. | |
The central bank next meets in mid-September, and opinion is split as to whether the Fed will act in September or wait until December. | |
Japan's benchmark Nikkei 225 index closed up 0.3% at 20,724.56 after the Bank of Japan kept its stimulus programme unchanged, as widely expected. | |
In Australia, weaker commodity prices continued to weigh on shares, as oil prices fell on concerns of oversupply. | |
The S&P/ASX 200 index finished 2.4% down at 5,474.80. | |
Shares in ANZ bank fell 7.2% after the lender announced on Thursday that it was raising $2.2bn to meet tougher capital ratio rules. Its third quarter earnings figures also came in below expectations. | |
South Korea's Kospi closed down 0.2% at 2,010.23. The index lost 1% over the week, marking its third consecutive week of losses. |