China previously said it would increase its efforts to increase disposable income and stabilize employment. The National Development and Reform Commission announced these plans during a press conference.
Hong Kong has also recently implemented measures to avert a recession. On Thursday, the city government unveiled a stimulus package worth about $ 1
9 billion in Hong Kong dollars ($ 2.4 billion).
Some companies trading in Hong Kong and Shanghai also had good earnings. Ping An Insurance ( PIAIF ) China's largest insurance company, climbed 3% in Hong Kong after experiencing a 68% wave in the first half. Its Shanghai-traded shares also gained 2.2%.
Tsingtao Brewery ( TSGTF ) China's second largest beer producer, rose 10% in Shanghai, after net profit increased more than 25% for the first half. Hong Kong-traded shares jumped 11.5%. Its larger rival China Resources Beer ( CRHKY ) most famous for Snow beer, increased by 7.2% in Hong Kong after achieving a net gain of 24% for first half of the year.
Australia's S & P / ASX 200 cuts between small gains and losses. It last traded 0.1% lower. On Thursday, the index tumbled 2.9%.
Japan's Nikkei ( N225 ) was 0.1% higher after lower opening. South Korea's Kospi ( KOSPI ) fell 0.8% when it reopened Friday, after Thursday's public holiday.
Trade tensions in the United States and China continue to be a concern.  On Thursday, China said it would "take necessary action" after the United States announced earlier this month a new 10% US $ 300 billion tariff on Chinese goods. But a foreign ministry spokeswoman later reassured the investor's fears that China is still hopeful of a possible trade deal.
Here are some other great features and talking points at 12.45. Hong Kong Time:
- Tencent ( TCEHY ) the Chinese social media and gaming giant, continued to fall after it warned of future challenges for their business. It was last down 0.9%.
- On Thursday, Dow ( INDU ) rose about 100 points, or 0.4%, and recovered some of the major losses in the previous session. S&P 500 ( INX ) ended 0.25% higher. But Nasdaq ( COMP ) with its many technology companies, dipped 0.1%.
- Alibaba ( BABA ) the Chinese online store giant, jumped 3% on Wall Street after reporting sales that hit the market estimates. Revenue rose 42% in the last quarter .