TOKYO (AP) – Asian shares pushed higher Friday following a rally in U.S. markets, but China’s benchmark sank again on worries over the potential impact of a flurry of initial public offerings and moves by regulators to curb margin trading. Thai shares fell after authorities confirmed the country’s first known case of the deadly MERS virus.
KEEPING SCORE: Japan’s Nikkei 225 rose 0.7 percent to 20,138.88 and the Hang Seng in Hong Kong added 1.1 percent to 26,984.05. South Korea’s Kospi gained 0.6 percent to 2,054.40 and Australia’s S&P/ASX 200 jumped 1.3 percent to 5,595.60. The Shanghai Composite Index dropped 2.1 percent to 4,687.32 and the smaller Shenzhen Composite Index lost 2.6 percent to 2,839.29.
CHINA JITTERS: Chinese shares have backed away from recent peaks on worries that a bubble may be building in equity markets. A flurry of IPOs is accentuating concerns over liquidity. Meanwhile, the government’s moves to curb risks from margin trading are also weighing on sentiment.
THAILAND SCARE: Public health officials confirmed that dozens of people were under observation after a 75-year-old man who travelled to Bangkok from Oman for treatment of a heart ailment was confirmed to have the MERS virus. The Middle East respiratory syndrome has killed 23 people and sickened more than 160 in South Korea in the biggest outbreak outside the region where it was first identified in 2012. Thailand’s SET index slipped 0.2 percent to 1,505.17.
JAPAN POLICY: The Bank of Japan announced as expected no change in its ultra-loose monetary policy, which is meant to push inflation higher and spur growth.