Asia Rally Sends Stocks Above Key Level Unseen Since July: Chart

Shanghai Composite Index Drops 2.92% To Below 2,700 Points On Thursday

An investor observes the stock market at an exchange hall on January 28, 2016 in Nanjing, Jiangsu Province of China.

Photographer: ChinaFotoPress via Getty Images

Asian equities are reclaiming lost ground after a selloff earlier this year. On Wednesday, the MSCI Asia Pacific Index jumped to the highest level since the beginning of the year, and in the process broke above its average price for the past 200 days. The last time the regional gauge traded above that key level was in July, just before stocks plunged following China’s surprise currency devaluation.

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