Most Asian Stocks Advanced, Led by Japan, Australia

Most Asian stocks gained as Japanese and Australian shares rebounded after the regional benchmark index fell yesterday by the most in a week. The Shanghai Composite Index slid to the lowest in a month amid concern China’s rising home prices will spur additional property curbs.

Commonwealth Bank of Australia, the nation’s largest lender, rose 1.1 percent after the central bank governor said interest-rate cuts need time to work. Tosoh Corp. jumped 4.3 percent in Tokyo on a report the chemical maker developed materials that prevent lithium ion batteries from catching fire. Belle International Holdings Ltd. declined 5.4 percent in Hong Kong as analysts from Nomura Holdings Inc. and CCB International Securities Ltd. downgraded the shoe retailer.