Asia Markets Rally as China's Stock Market Rescue Efforts Falter
TL;DR Summary
Asian markets rose, with Hong Kong and China leading the gains, while Japan's Nikkei 225 also climbed. However, Japan's unemployment rate for July came in higher than expected. Shares of embattled property developer China Evergrande continued to slide for a second day after trading resumed. UOB suggests that the weakness in China's yuan may be ending as the economy stabilizes. The Shenzhen Composite was the best performing index in Asia, driven by tech and industrial stocks. Toyota suspended operations at 12 assembly plants in Japan due to a system glitch.
- Asia markets rise, led by Hong Kong and China; Japan unemployment higher than expected CNBC
- Beijing's Stock Market Playbook Won't Work for Long The Wall Street Journal
- China's 5.5% Stock Rally Fizzles in Blow to Market Rescue Effort Bloomberg
- Mainland, Hong Kong stock market moves reflect challenging times South China Morning Post
- China takes measures to lift equity sentiment – Danske Bank FXStreet
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