China shares gain on latest policy steps; Fed view supports dollar

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TOKYO: China stocks rose on Friday as the central bank officially launched a swap facility aimed at boosting the equity market, although shares elsewhere in Asia were mixed in the wake of data confirming a slowdown in the world's second-largest economy.

Japan's Nikkei gave up early gains to be flat.The U.S.dollar index, which measures the currency against six rivals including the yen and euro, eased to 103.65, after climbing to 103.87 on Thursday for the first time since Aug.2.

"Robust retail sales data provided the Federal Reserve with greater flexibility in its rate path," said James Kniveton, senior corporate FX dealer at Convera.com.

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Category: EconomyBusiness

Markets: MalaysiaAustraliaChinaHong KongJapanSouth KoreaTaiwan

Topics: Federal Reserve PBOC /Business/Business News Markets

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-18 @ 15:30:00 (4 hours ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 784 words

Reading Time: 5 minutes read

Sentences: 29 lines

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Copyright Owner: © The Star

News ID: 23116411

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