Chinese shares finished lower Thursday, swinging wildly in the last hour of trading, and extending a pattern of intraday volatility that started with mid-June’s selloff.
In Japan, the Nikkei 225 index gained 219.92 points, or 1.1%, to 20,522.83, helped by a weaker yen. The Japanese currency was last at ¥124.15 against the U.S. dollar compared with a close of ¥123.94 in New York.
In Hong Kong, the Hang Seng Index slumped 121.47, or 0.5%, to 24,497.98, while a gauge of Chinese companies listed in the city was down 2.7%.
Asian shares elsewhere mostly rallied after the Federal Reserve offered few clues on plans to raise interest rates for the first time in nearly a decade. Its easy-money policy, mirrored by central banks around the world, has helped fuel stock gains since the global financial crisis, and a delay in raising rates could give stocks more steam.
In South Korea, shares of Samsung Electronics Co. were down 3.8% after the firm logged its fifth-straight year-over-year drop in profit. Sales for the company’s flagship Galaxy S6 smartphone fell short of market expectations and hurt profit.
CHINA
In China, the CSI 300 gave up 114.97 points, or 2.9%, to 3,815.41
The volatile trading follow authorities’ recent signals to continue supporting the market and steps to investigate sharp declines.
Earlier this week, China’s stock regulator said it would continue to support the market, though authorities don’t disclose the pace of buying, or the total amount that they have bought up in stocks.
Officials also are investigating possible coordinated dumping of shares, after earlier this month restricting senior executives and shareholders who own more than a 5% stake from selling for six months.
The securities watchdog has investigated a total of 27 listed firms over share sales in violation of rules in July, according to a report by state-run People’s Daily.
On Wednesday, the securities regulator said a listed arm of China’s state-owned aerospace and defense company and its two largest shareholders are under investigation for potential violation of stock-selling rules. Shares of AVIC Heibao Co. were up 5.4%.
The crackdowns have made some investors uneasy, with an increasingly unpredictable pace of regulatory changes.
In other markets
Singapore’s Straits Times Index ditched 34.48 points, or 1.1%, to 3,249.52
In Taiwan, the Taiex index rocketed 88.01 points, or 1%, to 8,651.49
In Korea, the Kospi index fell 18.59 points, or 0.9%, to 2,019.03
The NZX 50 added 21.08 points, or 0.4%, to 5,891.85
The ASX 200 Index gained 45.37 points, or 0.8%, to 5,669.52
