"China's Market Boost Sparks Asia Shares Rally"
Asian shares rallied as China announced new measures to support its struggling markets, including halving the stamp duty on stock trading. However, caution remains ahead of upcoming readings on US jobs and inflation, which could impact interest rates. Chinese blue chips jumped 3% in choppy trade, while Japan's Nikkei rose 1.5%. The market also reacted to Federal Reserve Jerome Powell's slightly hawkish outlook, with expectations of no rate hike at the September meeting. US data, including manufacturing surveys and reports on payrolls and inflation, will be closely watched. The European Central Bank's decision on whether to hike rates next month will also depend on EU inflation figures. The dollar remained firm, supported by higher Treasury yields, while gold prices were weighed down. Oil prices received some support from a rise in US diesel prices, but concerns about Chinese demand persisted.