Stock market today: Asian shares are mixed as China stocks get bump from new property measures

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Asian shares were mixed on Friday, with Chinese stocks reversing earlier losses following the announcement of fresh measures to revive the ailing property

market.

In Tokyo, the Nikkei 225 declined 0.3% to 38,787.38, while Australia’s S&P/ASX 200 gave up 0.9% to 7,814.40.On Thursday, the Dow slipped 0.1% to 39,869.38 after topping 40,000. The S&P 500 index, which is much more widely followed on Wall Street, dipped 0.2% to 5,297.10, and the Nasdaq composite fell 0.3% to 16,698.32. All three indexes had rallied on Wednesday to all-time highs.

Also sinking were GameStop and AMC Entertainment, which slid for a second straight day following their jaw-dropping starts to the week. GameStop fell 30%, though it’s still up nearly 59% for the week so far. AMC Entertainment lost 15.3%. Chubb rose 4.7% after Warren Buffett’s Berkshire Hathaway disclosed it had built an ownership stake in the insurer.

 

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