Chinese shares end with modest gains

Asian stocks ended mixed on Wednesday and the U.S. dollar index surpassed 104 mark, tracking elevated U.S. treasury yields amid easing expectations of aggressive Federal Reserve rate cuts and fears the U.S. may be heading toward fiscal collapse.

Gold reached a new record high while oil prices fell after industry data showed U.S. crude inventories swelled more than expected.

Chinese shares eked out modest gains after reports emerged that the government may deploy as much as 2 trillion yuan (US$280 billion) to establish a stock market stabilization fund.

The benchmark Shanghai Composite index rose 0.52 percent to 3,302.80 while Hong Kong's Hang Seng index rallied 1.27 percent to 20,760.15.

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