Chinese shares gained as traders added wagers on stronger growth stimulus, forming a bright spot in a region dominated by caution ahead of key US jobs data.
China’s benchmark CSI 300 index rose as much as 1.9%, in a sign that investors were positioning for fresh economic support measures from a key policy meeting scheduled on Wednesday.
Hong Kong stocks also jumped. An Asian equities gauge swung between gains and losses with benchmarks in Japan, South Korea and Australia all down.
The broader downbeat tone in the region came after S&P 500 dropped 0.2% and the tech-heavy Nasdaq 100 slipped 0.3% Thursday, their first declines in five sessions.
“Some of the A-share listed ETFs are seeing elevated volumes,” said Nigel Peh, a fund manager at Timefolio Asset Management in Singapore.
“We are having the Central Economic Work Conference next week so maybe some squaring of positions ahead of the event, too.”
