Asia close: Chinese stocks outperform as officials signal policy support

by | Aug 4, 2023

(Sharecast News) – Asia Pacific stocks stabilised at the end of the week with investors keeping their cards close to their chests ahead of the release of the July U.S. non-farm payrolls numbers and heading into the weekend.
Japan’s Nikkei-225 edged up 0.1% to 32,192.75 and Hong Kong’s Hang Seng added 0.62% to 19,540.47.

In the background, dollar/yen was up by 0.08% at 142.69 while against the yuan it rose 0.17% to 7.1818.

The yield on the benchmark 10-year Japanese government bond meanwhile was one basis point lower to 0.646%.

Helping Chinese stocks to outperform again, on Friday, officials from multiple departments at China’s central bank said at a briefing that they would support economic growth in the back half of 2023, Dow Jones Newswires reported.

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