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An index of Asian shares reversed course and rose on Thursday as a slide in battered Chinese stocks was stemmed, at least temporarily, while the safe-haven yen was nudged off highs scaled against the dollar.
MSCI’s broadest index of Asia-Pacific shares outside Japan, often held hostage to volatile Chinese stocks, was down 0.9 percent early in the day, but then was up 0.8 percent. During Wednesday, it touched a 17-month low.
At 0253 GMT, China’s CSI300 index was up 1.6 percent and the Shanghai Composite Index had gained 0.6 percent. Both indexes started the day significantly lower.
Japan’s Nikkei trimmed earlier losses and was last down 0.7 percent as Chinese stocks reversed their fall. Hong Kong’s Hang Seng soared 2.9 percent.
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