Chinese blue chips rise as trading resumes after a one week national holiday
Asian shares rose on Friday as Chinese shares returned from a one week holiday upbeat, tracking a global rally, while investors also eyed key US jobs data for any fresh insight into the timing of Federal Reserve tapering.
“The debate on China is shifting a bit away from being very negative. People are asking ‘Is there a way beyond the regulatory uncertainty? How much of this is reflected in prices?’," said Herald van der Linde, Asia Pacific head of equity strategy at HSBC.The focus remains on the property market as investors wait to see whether regulators take action to contain the contagion from cash-strapped China Evergrande Group’s debt problems.
Investors are also keeping an eye on US employment data for September due later on Friday. They expect employment figures that are near consensus will lead the Federal Reserve to indicate at its November meeting when it will begin tapering its huge stimulus programme.
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