Asian shares have mostly gained after China's central bank released plans for supporting the stock market through share repurchases by companies and major shareholders.
Beijing also reported that the Chinese economy slowed further in the last quarter, which spurred expectations the government will ramp up its latest stimulus efforts. The world's second-largest economy expanded at a 4.6 annual pace in July-September, down slightly from 4.7 in the previous quarter.
Growth so far this year has averaged to 4.8, below the official target of about 5, as weakness in the property market has continued to weigh on demand.
Meanwhile, the central bank issued guidelines for state banks to provide loans to companies and major shareholders for stock repurchases as part of an effort to stabilize China's share markets, which have languished in recent years.
The loans, which can be made only by 21 designated financial institutions, will have a maximum interest rate of 2.25, the People's Bank of China said in a statement that underscored plans for strict oversight of the effort to support the markets.
