China stocks rebound; investors await US payrolls, domestic data

Business Recorder reported that mainland Chinese shares bounced at midday on Thursday, snapping two straight days of declines. The Shanghai Composite rose 0.4%, and the blue-chip CSI300 climbed 0.5%. Property shares were among the strongest performers, with their sub-index surging 4.9% after three sessions of steep losses.

Hong Kong's Hang Seng index was roughly unchanged at 25,317.49 points, while the city's tech shares slipped 0.6%. Investors are focused on Friday's US nonfarm payrolls report, where analysts expect 56,000 new jobs after a surprise fall of 23,000 in July. Traders see a 61% probability of a Fed rate increase in September, a move that could ripple through global markets.

Domestic August data is also in focus, and Citi analysts said activity should remain sluggish that month, though they are watching for a recovery in September after recent policy support. Separately, China's central bank governor told a G20 finance meeting that the country does not deliberately seek a trade surplus, per a central bank statement released Wednesday.