Regional markets have enjoyed a recent rally but investors took fright at claims that at least 1,000 Russian troops had entered
The news sparked concerns of a confrontation between
However, Putin called on separatists in
The crisis diverted attention from
The Shenzhen Composite Index, which tracks stocks on China’s second exchange, gained 1.13 percent, or 13.55 points, to 1,212.26 on turnover of
However, Friday’s increase “looks like a technical rebound which is unlikely to be sustained in the absence of positive headlines about economy,” Zhang Yanbing, an analyst at
Dealers are now awaiting the release of manufacturing data for August, which is due Monday.
While the latest data showed the economy picked up in April-June there are concerns over whether the rebound can be sustained in the face of an unruly slowdown in the housing market and risks in the banking sector.
Defence stocks led Friday’s gains on hopes that the industry, which is largely controlled by the state, would benefit from the unfolding state-owned enterprises reform.
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