1tn yuan ($138.23bn) long-term treasury bond issuance offset weak credit data in China.

China stocks were flat as a $138bn stimulus bond issuance offset weak credit data, showing a record low in April. Hong Kong shares followed regional markets higher. China's finance ministry plans to start selling 1tn yuan ($138.23bn) long-term treasury bonds to stimulate key sectors. New bank lending in China fell more than expected, raising the prospect of further economic support.