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Asian shares follow Wall Street lower China shares gain on reports of more funding measures
(about 5 hours later)
Asian markets were mostly lower, taking their cue from Wall Street where investors were cautious ahead of key jobs data out later in the day. 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 July figures could give a strong pointer as to when the Federal Reserve will raise interest rates - the first move in nearly a decade. The agency tasked with buying stocks to prop up the market is looking for another $322bn (£207bn) in funds, according to Bloomberg.
The central bank meets in mid-September and markets are split between a September or December rise. Local reports also said that close to 300 Chinese funds were waiting on the sidelines to enter the market.
Japan's benchmark Nikkei 225 index was down 0.4% to 20,578.52. The Shanghai Composite index rose 1.7% to 3,723.79.
Investors awaited the outcome of the Bank of Japan's two-day policy meeting, at which it is widely expected to maintain its stimulus program. In Hong Kong, the Hang Seng index was up 0.8% at 24,578.45.
China bucks trend 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.
Chinese shares opened higher with Shanghai Composite up 1.2% at 3,706.59, while Hong Kong's Hang Seng index was up 0.3% at 24,456.65. US jobs data
Shares in China Railway Signal & Communication (CRSCC) were up 0.5% on its market debut after the world's largest builder of rail traffic control systems raised $1.4bn (£902m) for acquisitions, research and expansion. Trading in the rest of Asia was mixed, with investors remaining cautious ahead of key US jobs data due out later.
In Australia, shares headed lower on weaker commodity prices as oil prices continued to slump on concerns of oversupply. July's non-farm payrolls figure could give a strong pointer as to when the Federal Reserve will raise interest rates.
The S&P/ASX 200 index was 1.8% down at 5,508.90, pulled lower by energy shares. 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.
Shares of ANZ were down 6.9% after the lender announced on Thursday that it was raising $2.2bn in a share sale to meet tougher capital ratio rules. 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.
Its third quarter update on earnings also came in below expectations. In Australia, weaker commodity prices continued to weigh on shares, as oil prices fell on concerns of oversupply.
In South Korea, the Kospi index was down 0.3% at 2,007.46 points. 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.