Asian stocks edge higher as China acts on housing, yuan weakness
China stepped up efforts to support its housing sector and stabilise the yuan, though investors remained cautious ahead of U.S. jobs data that could make or break the case for further rate hikes.
U.S.
consumer spending increased by the most in six months in July, but slowing monthly inflation rates cemented expectations that the Federal Reserve would keep interest rates unchanged next month. U.S August payrolls data tonight could offer more clues.
MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.15%, while Japan's Nikkei was up 0.45%.
All eyes are on Beijing's efforts to revive the crisis-hit property sector and weak consumption, which are weighing heavily on the ailing economy.
China's factory activity surprisingly returned to expansion in August, beating estimates, a private-sector survey showed on Friday.
