Asian stocks advanced, with the benchmark index posting its biggest rally in more than seven weeks, as Japanese shares led gains and Chinese developers surged.
The Nikkei 225 in Tokyo sprang back 352.15 points, or 2.4%, to 15,130.52, after Friday’s 3% collapse.
The Hang Seng Index in Hong Kong regained 314.61 points, or 1.3%, to 24,646.02
Mitsui Mining & Smelting Co., a maker of lead and copper alloys, jumped 7.4% in Tokyo after raising its full-year profit forecast. SunacChina Holdings Ltd. soared 9.3% in Hong Kong, with the developer posting its highest close in 18 months, on prospects for further easing of mainland property curbs.
Malaysian Airline System Bhd. advanced 8.3% after sovereign wealth fund Khazanah Nasional Bhd. offered to take the carrier private.
Treasury Wine Estates Ltd. rose 3.9% in Sydney after U.S. buyout firm TPG Capital offered A$3.4 billion ($3.2 billion U.S.) for the world’s second-biggest listed winemaker, according to a person familiar with the matter, matching a takeover bid by KKR & Co. and Rhone Capital LLC.
CHINA
The Shanghai CSI 300 index gained 34.22 points, or 1.5%, to 2,365.35
China’s consumer price index rose 2.3%in July from a year earlier, the government said Aug. 9, the same pace as in June and also the median estimate in a Bloomberg News survey. Factory-gate prices fell 0.9%, matching projections and extending the longest stretch of declines since 1999.
China loosened monetary conditions last quarter at the fastest pace in almost two years, one gauge showed, testing the waning effectiveness of credit in supporting economic growth.
In other markets;
In Singapore, the Straits Times STI Index recovered 17.56 points, or 0.5%, to 3,306.45
In Korea, the Kospi index was up 8.27 points, or 0.4%, to 2,039.37
The Taiex Index in Taiwan hiked 86.95 points, or 1%, to 9,172.91
In New Zealand, the NZX 50 lost 5.57 points, or 0.1%, to 5,049.63
Australia’s S&P/ASX 200 regained 21.72 points, or 0.4%, to 5,457.03
