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| Mainland China shares reach fresh seven-year high | |
| (about 2 hours later) | |
| Shares on mainland China reached a new seven-year high on Friday, with the Shanghai Composite reaching above 5,000 points for the first time since 2008. | |
| The benchmark index was up 1.60% at 5,026.25 in mid-morning trade after a volatile day of trading on Thursday. | |
| Hong Kong's Hang Seng index was down 0.34%, however, at 27,452.40 points. | |
| Mainland Chinese stocks plunged as much as 5% at one point on Thursday after more brokerages clamped down on margin trading. The index later closed up. | |
| Margin trading allows investors to borrow money to buy stocks | |
| Shares have been volatile in China as investors also freed up cash amid a raft of initial share offerings in Shanghai. | |
| Elsewhere in Asia | |
| Other shares in Asia were mixed on Friday after US stocks closed lower amid fears over Greece reaching a deal with creditors, and the IMF cutting its US growth forecast. | |
| Japan's Nikkei 225 was down 0.44% at 20,398.95 points in mid-morning trade. | |
| Greece has told the IMF it will delay Friday's €300m (£216m) debt repayment and bundle June's payments together. | Greece has told the IMF it will delay Friday's €300m (£216m) debt repayment and bundle June's payments together. |
| Investors will also be watching US non-farm payroll job numbers out on Friday. | Investors will also be watching US non-farm payroll job numbers out on Friday. |
| The numbers will give investors the most up-to-date health check on the world's largest economy. | The numbers will give investors the most up-to-date health check on the world's largest economy. |
| Expectations are that the job report will show America added around 225,000 jobs in May, up from 223,000 in April. | Expectations are that the job report will show America added around 225,000 jobs in May, up from 223,000 in April. |
| Analysts said a positive report of more than 250,000 would push the value of the US dollar up, and could raise expectations that the US Federal Reserve may raise rates as soon as September. | Analysts said a positive report of more than 250,000 would push the value of the US dollar up, and could raise expectations that the US Federal Reserve may raise rates as soon as September. |
| In Australia, the benchmark S&P/ASX 200 was flat, down just 0.03% at 5,502.50. | |
| The index closed down close to 1.5% on Thursday, after the government posted its worst trade deficit on record. | The index closed down close to 1.5% on Thursday, after the government posted its worst trade deficit on record. |
| Meanwhile, in South Korea, the benchmark Kospi index was down 0.34% at 2,065.87. | |
| Analysts suggest investor sentiment could be affected in South Korea after a fourth person died in the country from Middle East Respiratory Syndrome or Mers. | |
| Mers has infected dozens of people and closed hundreds of schools. The latest victim contracted the disease after sharing a hospital ward with Mers patients. | |