China's foreign exchange reserves rose slightly in July, bolstered by a weaker U.S. dollar and mixed global asset prices, according to official data released on Friday.
The country's foreign exchange reserves stood at 3.4188 trillion U.S. dollars at the end of July, up by 2.5 billion dollars, or 0.07 percent, from the end of June, according to the State Administration of Foreign Exchange (SAFE).
The marginal increase came as the U.S. dollar index declined in July amid shifting global macroeconomic conditions and monetary policies in major economies. The combined effects of currency translation and asset price changes contributed to the rise in reserves, SAFE said in a statement.
Looking ahead, the foreign exchange regulator expressed confidence in the reserves' ability to remain broadly stable, citing the fundamental strength of China's economy.
China's foreign exchange reserves edge up in July
Tokyo stocks closed mixed Friday, with investors taking profits from heavyweight technology shares, while bargain hunting in other sectors helped offset some of the losses.
The benchmark 225-issue Nikkei Stock Average ended down 76.55 points, or 0.12 percent, from Thursday at 65,606.71.
The broader Topix index, meanwhile, finished 19.08 points, or 0.47 percent, higher at 4,074.93.
The Nikkei index fell in the morning session, as investors lacked fresh market catalysts after earnings announcements from major companies largely concluded. Sentiment was also weighed down by a rise in West Texas Intermediate crude oil futures above 75 U.S. dollars per barrel. Meanwhile, investors shifted funds from technology stocks into other sectors, helping support the broader market, analysts said.
Stocks were lifted in the afternoon, with buybacks in artificial intelligence- and semiconductor-related shares gaining momentum after Fujikura Ltd., a major supplier of cables for AI data centers, raised its forecast for the current fiscal year in its latest earnings results released during the session.
Tokyo stocks end mixed
