Following stronger-than-expected US August jobs data, markets raised the probability of a Federal Reserve rate hike at the Sept. 16 meeting. LSEG data shows markets now price a 61% chance of a Fed rate increase, versus roughly 50% priced for a hike or no change before the release; US payrolls rose 162,000 in August versus a 53,000 consensus, and July payrolls were revised higher.

At midday the Shanghai Composite was up 0.35%, the Shenzhen Composite up 0.27% and the ChiNext index up 0.43%; ChiNext and the Shenzhen Composite had both risen more than 1% earlier in the session. Pork-related names led gains, with Luoniushan, Boen Group, Zhenghong Technology and Tianbang Food among stocks hitting daily limits. Fisheries strengthened—Zhongshui Fishery hit the limit up. Cryptocurrency-related stocks rebounded; Sifang Jingchuang hit the limit and Hailian Jinhui, Cuiwei Co. and Chutianlong also reached limits. AI training-data names climbed, with Tianyu Digital and China Publishing at their limits. Other outperforming sectors included property services, Baijiu, planting, food processing, cement and marine equipment. Lagging sectors included memory chips, precious metals, MLCC, lithography machines, helium, CPO (palm oil) and optical fiber. Combined turnover on Shanghai and Shenzhen was about 1.23 trillion yuan at midday, roughly 135.5 billion yuan higher than the same time yesterday; around 3,900 stocks advanced and 1,200 declined.

BFM TV reports France will announce a €1 billion aid package for farmers to help them cope with damage from this summer's heatwave.