China Stocks Rebound as Yuan Gains; Tokyo Shares Decline
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Chinese stocks climbed the most in three weeks and the yuan strengthened after the government pledged to support machinery exports. Russia’s ruble rose for a fifth day, while Japan’s 10-year bond yields fell to a record.
The Shanghai Composite Index added 3.4 percent following the biggest two-day drop in 18 months. The ruble gained 1.7 percent to a three-week high versus the dollar. VTB Bank jumped to the strongest level since April 2012 as Finance Minister Anton Siluanov said Russia is doing everything it can to provide the lender with funding by year-end. Japanese bond yields slid after borrowing costs at a government note auction fell below zero for the first time.