US Edition
Asian 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?
20 Articles
20 Articles
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 Sources20
Leaning Left3Leaning Right1Center7Last UpdatedBias Distribution64% Center
Bias Distribution
- 64% of the sources are Center
64% Center
L 27%
C 64%
Factuality
To view factuality data please Upgrade to Premium
