Asian Stocks Advance on China Trade Data as Japanese Shares Jump
- Japan's benchmark Topix index gains for first time this year
- Shanghai equities continue slump, hitting lowest since August
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Asian stocks rebounded from a three-year low, with Japanese shares climbing for the first time this year, as China’s exports unexpectedly rose in yuan terms and investors speculated a global selloff had gone too far.
The MSCI Asia Pacific Index climbed 1.8 percent to 122.86 as of 4:04 p.m. in Hong Kong, halting a seven-day losing streak after closing at the lowest level since November 2012 on Tuesday. Japan’s Topix index jumped 2.9 percent, its biggest gain in four months. Stocks in Shanghai resumed losses, dropping to the lowest level since August.