Asian Stocks Jump With China Rebounding From Three-Month Low
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Asian stocks advanced, with the regional benchmark index rebounding from its biggest decline in two years, as Chinese equities rose in volatile trading after the government ramped up measures to stem the equity rout.
Mainland brokerages Citic Securities Co. and China Galaxy Securities Co. gained for the first time in six days, surging more than 17 percent in Hong Kong. China Life Insurance Co. climbed 5.7 percent after UBS AG raised its rating on the nation’s largest insurer to buy from neutral. Korean Air Lines Co. dropped 5.5 percent in Seoul after shareholder Hanjin Transportation Co. failed to sell its entire stake in the carrier due to weak investor sentiment amid the China rout.