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| Chinese stocks hit fresh seven-year high | |
| (35 minutes later) | |
| Mainland Chinese stocks hit fresh seven-year highs on Friday and notched up their biggest weekly gain in two months as the market continued to rally. | |
| The Shanghai Composite rose 2.8% to 4,657.60, while Hong Kong's Hang Seng index added 1.7% to 27,992.83. | |
| The mainland index had hit a seven-high on Thursday on hopes of more stimulus from the government after a private survey showed more weakness in the vast manufacturing sector. | The mainland index had hit a seven-high on Thursday on hopes of more stimulus from the government after a private survey showed more weakness in the vast manufacturing sector. |
| The rest of Asia also made gains. | |
| Markets gained momentum from Wall Street, where shares hit a new high. | Markets gained momentum from Wall Street, where shares hit a new high. |
| The S&P 500 closed up 0.2% to a new all-time record after weak US data on home sales, manufacturing and business activity appeared to quash plans of an interest rate rise in June. | The S&P 500 closed up 0.2% to a new all-time record after weak US data on home sales, manufacturing and business activity appeared to quash plans of an interest rate rise in June. |
| Japan's Nikkei 225 index closed up 0.3% to 20,264.41 after the Bank of Japan's decision to keep interest rates and its policy unchanged, as widely expected. | Japan's Nikkei 225 index closed up 0.3% to 20,264.41 after the Bank of Japan's decision to keep interest rates and its policy unchanged, as widely expected. |
| Toshiba shares closed up 0.4% despite the tech firm saying it would expand an accounting probe to other operations with a focus on its TV, computer and chip businesses. | Toshiba shares closed up 0.4% despite the tech firm saying it would expand an accounting probe to other operations with a focus on its TV, computer and chip businesses. |
| The company has already said that it is investigating bookkeeping irregularities for some infrastructure projects. | The company has already said that it is investigating bookkeeping irregularities for some infrastructure projects. |
| In Australia, the S&P/ASX 200 ended flat at 5,664.7. | In Australia, the S&P/ASX 200 ended flat at 5,664.7. |
| South Korea's benchmark Kospi index closed up 1.1% at 2,146.1 - the sharpest daily gain in a month. | South Korea's benchmark Kospi index closed up 1.1% at 2,146.1 - the sharpest daily gain in a month. |