US EditionAsian markets rally as Chinese stocks selloff eases
Asian stock indices in Tokyo, Hong Kong, and Shanghai rose as Chinese semiconductor shares stabilized after a 2.1% drop, with investors awaiting US jobs data.
- Asian markets rallied on Friday as selling in Chinese stocks eased, with Tokyo and Hong Kong advancing and Shanghai Composite clawing back from early weakness.
- The pullback followed heavy tech losses including a Cambricon Technologies crash on Thursday as China's semiconductor shares plunged amid regulatory concerns, analysts said the slide followed a Bloomberg report that China's financial regulators may cool the selloff pace.
- Company-Specific rebounds and index gains underpinned the regional rally as Japanese motor maker Nidec climbed 3.7 percent and key indexes like Nikkei 225 and Shanghai Composite showed modest gains on Friday.
- Investors are focusing on Friday's US jobs report to judge rate-cut odds as stock markets climbed on Wall Street and global bond markets stabilised, with Victoria Scholar noting, `All eyes will be on Friday's nonfarm payrolls report with bad news likely to be interpreted as good news as it will raise the market probability that the Fed cuts rates`.
- Stephen Innes, SPI Asset Management, warned the selloff marked a first crack in a $1.2 trillion melt-up, while oil prices extended losses Friday as OPEC+ nations plan to unwind production cuts.
Insights by Ground AI
Does this summary seem wrong?
23 Articles
23 Articles
Asian shares rise as Chinese sell-off eases
REC Asian markets mostly gained yesterday after an intense sell-off of Chinese equities eased, amid reports the country's financial regulators could intervene to slow the dumping. A Wall Street stock rally also lifted sentiment.
·Bangkok, Thailand
Read Full Article
The good momentum in the United States spread to Asian stock markets on Friday morning. Chinese stocks recovered after Thursday's decline.
Coverage Details
Total News Sources23
Leaning Left5Leaning Right2Center7Last UpdatedBias Distribution50% Center
Bias Distribution
- 50% of the sources are Center
50% Center
L 36%
C 50%
14%
Factuality
To view factuality data please Upgrade to Premium
