Friday, 28 August 2015

Asia stocks extend recovery on China

Asian stocks extended their recovery into the final trading day of the week as investors cheered a second day of gains in Chinese and US markets. 

China's benchmark Shanghai Composite spiked more than 1 percent in early trade on Friday, building on a 5.4 percent gain in the previous session following news that the People's Bank of China purchased stocks from big firms and requested state-owned banks to buy more yuan on its behalf late on Thursday. 

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