Asian equities ended the week on a high note, as Mainland China and Hong Kong outperformed and the Philippines underperformed.

China is guiding local mutual funds and insurers to boost investments into stocks in the government’s latest initiative to shore up its ailing equity market.

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.

China on Thursday detailed measures to encourage state-owned funds and insurers to buy more shares, aimed at stabilizing the struggling stock market at a time when U.S. President Donald Trump is preparing to announce tariffs on Chinese imports.

Authorities’ request for state-owned insurance companies and mutual funds to invest more in stocks got a lackluster market reaction.

China has announced plans to inject hundreds of billions of yuan into its equity markets annually, aiming to bolster investor confidence. In the first half of the year, state-owned insurers will invest at least 100