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The Asian market last: Asian markets continue to rise



Hong Kong's Hang Seng Index ( HSI ) rose almost 0.2%. Japan's Nikkei rose 0.7%, while South Korea's Kospi ( KOSPI ) climbed 1.2%.
China's Shanghai Composite Index ( SHCOMP ) was roughly flat following its 0.9% gain on Thursday.

On Friday, the Chinese central bank lowered the yuan for a seventh straight session. It put the daily fix at the weakest level since April 2008.

The price was set at 7.01

36 yuan per US dollar.

But the market was calmer. In land trading, the yuan was slightly weaker than Thursday: A dollar can now buy 7.05 yuan. In offshore trading, where the yuan trades more freely, the currency was virtually flat at 7.08 yuan per dollar.

US stock futures were down. Bloomberg reported earlier in the day that the White House is planning to delay a decision to grant licenses that would allow US companies to sell to Chinese technology company Huawei, citing people familiar with the matter.

Here are some of the other big gripes at 11:00 Hong Kong time:

  • Japan's GDP grew by an annual 1.8% in the second quarter, beating market estimates, official statistics showed on Friday.
  • China's consumer price index rose 2.8% in July, which was slightly better than market expectations. The country's producer price index fell 0.3%, according to government data released Friday. Swine prices rose by 27%, influenced by the outbreak of African swine fever.
  • Tencent, the Chinese social media and online gaming giant, advanced 0.1% after gaining government approval to sell two new video games in China.
  • China's largest nuclear operator, CGN Power, set the price for its upcoming listing in Shenzhen. It wants to raise 12.6 billion yuan ($ 1.8 billion). CGN Power is already trading in Hong Kong, where it was up about 1% Friday.
  • Swire Properties, which owns several major shopping malls in Hong Kong, said in an earnings report on Thursday that uncertainties related to trade and the weakness of the yuan have affected how tourists from mainland China spend their money – and in turn affected retail spending in Hong Kong. The company added that the city's protests have had "a certain effect" on retail at malls, and that sales will likely continue to be affected if protests continue. Shares fell more than 3.5% on Friday.
  • On Wall Street, stocks finished higher Thursday. Dow ( INDU ) closed 371 points, or 1.4%, higher. S&P 500 ( SPX ) and Nasdaq Composite ( COMP ) logged its third day of winnings in a row , with 1.9% and 2.2%, respectively.

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