Asian Stocks Track U.S. Rebound as China Shares Stage Late Surge
- Shanghai rallies after biggest five-day rout since 1996
- Speculation China state funds may have resumed buying stocks
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Asian stocks rose for a second day, led by a surge in Chinese markets in the final hour of trading, after U.S. equities halted a six-day rout.
The MSCI Asia Pacific Index gained 1.8 percent to 128.08 as of 4:02 p.m. in Hong Kong, with all 10 industry groups advancing. The Shanghai Composite Index soared 5.3 percent, rallying after the biggest five-day rout since 1996, amid speculation state funds have resumed buying.