The S&P 500 closed within 4 four points of an all-time high last night, but looks set for a modest pullback in early trading.

Asian equities were higher, except for Hong Kong and Mainland China, which were off following President Trump’s 10% tariff threat, which prompted profit-taking after six days of gains.

China's financial regulators on Thursday unveiled a slew of measures to urge large state-owned mutual funds and insurers to purchase more A-shares.

On Monday, Hong Kong-listed growth stocks had a strong day, as the Hang Seng Index gained +1.75% and the Hang Seng Tech Index gained +2.59% following U.S. President Donald Trump and China President Xi Jinping’s Friday phone call that took place after Asia markets closed and before the U.S. markets opened.

State-owned insurers and mutual funds are expected to play a pivotal role in the process of stabilizing the stock market.

China said on Wednesday it will guide big state insurers and commercial insurance funds to increase investments in the A-share market, in a latest move to boost its lagging stock market.

Beijing is seeing diminishing returns on repeated attempts to reinvigorate the market, as investors worry about harder-to-control economic fundamentals, like weak consumer spending and the prolonged property crunch.