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Asian markets mixed but Shanghai rebounds on officials’ support

October 19, 2018: Asian markets were mixed Friday, with Shanghai bouncing back from early losses to end the week with a rally following a rare joint intervention by some of China's top financial officials.

Comments from Vice Premier Liu He and the heads of the central bank, securities commission and banking regulator, were made to shore up confidence in China's equities and came as data showed growth in the world's number two economy slowing to a nine-year low.

Global investors have been swiped by a series of problems in recent months including rising US interest rates, geopolitical tensions and the China-US trade conflict, and they are running to the hills as they seek out safe havens.

Another round of mixed earnings out of Wall Street and expectations the Federal Reserve will lift borrowing costs for some time also weighed, helping to send all three major indexes in New York sharply lower Thursday.




Posted on: 2018-10-19T15:16:00+05:00


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