Asia

Markets across Asia have fallen on news the US government may be headed for its first shutdown of services in almost 20 years.

Prusik Investment Management has soft-closed its Asian Smaller Companies fund at $160m.

Asian markets have risen after data released by the Chinese National Bureau of Statistics showed a number of bright spots for the country's economy.

Shares rose across Asia overnight on positive manufacturing data from China, which analysts said marked a turning point for the region.

Improving factory data and a sliding yen helped lift Japanese shares overnight, amid a positive session for Asian markets in general.

Fidelity Worldwide Investment has expanded its regional equity income fund range with the launch of an onshore Asian income fund for manager Polly Kwan.

Investors who held their nerve and bought in to equity markets at the bottom in 2008 have made significant returns since then as markets recovered from the financial crisis.

Consumer sector growth in China could bolster the economy and make the country a better long-term investment than it may currently appear, according to fund managers.

Shares in Lloyds Banking Group and Jupiter Fund Management soared on Thursday after both groups reported hefty profits in their half-year results.

Aberdeen Asset Management's Hugh Young has cautioned there is a lack of buying opportunities in Asia as earnings growth continues to slow down across the continent.