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China shares gain on reports of more funding measures | China shares gain on reports of more funding measures |
(about 1 hour 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. | 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. | 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. | Local reports also said that close to 300 Chinese funds were waiting on the sidelines to enter the market. |
The Shanghai Composite index closed up 2.3% at 3,744.20. | |
In Hong Kong, the Hang Seng index finished 0.7% higher at 24,552.47. | |
Shares in China Railway Signal & Communication Corp (CRSCC) rose 0.3% 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 | US jobs data |
Trading in the rest of Asia was mixed, with investors remaining cautious ahead of key US jobs data due out later. | 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. | 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. | 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. | 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. | 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. | The S&P/ASX 200 index finished 2.4% down at 5,474.80. |
Shares in ANZ bank fell more than 7% 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. | 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. |