China stocks rebound 0.4% to 25,317 points as investors await US jobs report and domestic data
Mainland Chinese markets recovered from losses, with the Shanghai Composite rising 0.4%. Traders are focusing on Friday's US employment report for clues on Federal Reserve policy.
Chinese equity indices rose on Thursday following two consecutive days of declines. The Shanghai Composite index closed up 0.4%, and the CSI300 blue-chip index gained 0.5%. In Shenzhen, the main index advanced 0.3% while the ChiNext Composite index moved up 0.4%. The Shanghai STAR50 technology index remained relatively stable during trading hours. Property stocks led market gains, with the sub-index jumping 4.9% after three sessions of steep drops. Hong Kong's Hang Seng Index held steady at 25,317.49 points, though the Hang Seng Tech Index fell 0.6%. Market attention shifted to Friday's US nonfarm payrolls report for insights on labor market strength and the Federal Reserve's interest-rate path. Analysts predict a 56,000 job increase compared to July's drop of 23,000 jobs. The unemployment rate is projected to stay at 4.1%. Current market pricing suggests a 61% chance of a September Fed rate hike.
