Asian Stocks Advance as Investors Buy ‘Cheap’ Chinese Shares

Asian Stocks Advance as Investors Buy ‘Cheap’ Chinese Shares

Tomohiro Ohsumi/Bloomberg

China’s Shanghai Composite Index added 1.3 percent, with trading volume 35 percent higher for the time of day than its 30-day average. The index is valued at 8.3 times 12-month projected earnings, compared with the five-year average of 12.7 times, data compiled by Bloomberg shows.