Chinese trading volume hit a record level as the Shanghai Composite Index swung wildly before closing higher on Friday, while other Asian stock indexes made gains.
In Japan, the Nikkei 225 advanced 33.24 points, or 0.2%, to 17,920.45, with a six-day streak of gains putting the index at a seven-year high. The U.S. dollar which rose above 120 yen for the first time since 2007 on Thursday, was last at ¥120.27.
In Hong Kong, the Hang Seng index jumped 170.08 points, or 0.7%, to 24,002.64.
Meanwhile, oil prices continued to fall after Saudi Arabia cut the price of crude sales to the U.S., sending Brent crude futures down 45 cents to $69.19 U.S. a barrel, the lowest in more than four years.
CHINA
Shanghai’s CSI 300 index tacked on 20.53 points, or 0.7%, to 3,324.39.
The value of shares traded in Shanghai hit a daily record of 639 billion yuan ($103.8 billion U.S).
The gains over the past month for the Chinese market, which have seen the Shanghai Composite turned from one of the region’s perennial laggards into the year’s best performer, may help lift investor confidence for the rest of the region
In other markets;
Singapore’s Straits Times Index inched up 19.57 points, or 0.6%, to 3,324.39
The Taiex index in Taiwan lopped off 18.54 points, or 0.2%, to 9,206.57
Korea’s Kospi index nicked up 0.01 points to 1,986.62
New Zealand’s Exchange 50 dropped 0.77 points to 5,521.91
Australia’s S&P/ASX 200 moved lower 33.47 points, or 0.6%, to 5,335.33.
