Asian shares have mostly gained after China’s central bank released plans for supporting the stock market through share repurchases by companies and major shareholders. Beijing also reported that the Chinese economy slowed further in the last quarter,

China’s 200 million-strong army of retail investors was supposed to help the market turn a corner. Instead, it has become a source of weakness.

China's central bank kicked off two funding schemes on Friday that will initially pump 800 billion yuan ($112.38 billion) into the stock market through newly-created monetary policy tools. The People's Bank of China (PBOC) spelt out operational details of the swap and relending schemes first announced in late September,

Assurances from government officials on plans to strengthen the private sector offset a lack of specifics about economic stimulus.

Twenty-one banks to extend loans for stock buy-backs and stake hikes as the part of the 300 billion yuan scheme unveiled late last month.

An epic Chinese stock market rally lost steam after comments from the nation’s economic planners cast down hopes for more fiscal stimulus measures.

U.S. stocks were mostly rising midday Friday, with all three major benchmarks on track for weekly gains. The S&P 500 was up 17 points, or 0.3%, at almost 5,859. The Nasdaq Composite was advancing nearly 102 points, or 0.6%, to 18,475.