Most Asian stocks rose on Friday as unexpectedly positive Chinese factory activity data and more stimulus measures in the country helped improve sentiment before a closely watched U.S. jobs report.
China rolled out more measures to support its beleaguered housing market, while also cutting foreign exchange reserve requirements for local banks to release more dollars and buoy the yuan.
The move, which came as a private survey showed Chinese factory activity unexpectedly grew in August, helped spur some optimism over Asia’s largest economy, which is otherwise struggling with a sluggish post-COVID economic recovery.
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