Chinese stocks steady as Liao Min hints fiscal support measures
Business
Chinese stock markets stayed calm on Friday, with everyone waiting to see if the government will roll out more support.
Vice Finance Minister Liao Min hinted that new fiscal measures could be coming to help the economy, which gave investors a bit of hope.
The Shanghai Composite barely moved, while the CSI300 gained 0.52%.
ChiNext gains as July data disappoints
Tech shares and nonferrous metal stocks rose: ChiNext jumped 1.2%, and metals climbed as gold prices rose.
Over in Hong Kong, the Hang Seng Index ticked up 0.7%.
Still, July's numbers showed China's economy isn't bouncing back quickly: retail sales, factory output, and lending all stayed sluggish.
Now, investors are looking toward upcoming US Fed talks and hoping Beijing will announce clearer steps to boost growth soon.