China’s CSI 300 Index rebounded from the lowest level in five years as the yuan halted a two-day slide and money-market rates declined. Consumer-staple producers and property developers led the advance.
Asian stocks rose a second day after comments from Russian President Vladimir Putin signaled the Ukraine crisis won’t immediately escalate. China shares slid amid concern the country is facing its first onshore corporate bond default.
Declines that erased $1.7 trillion from global stocks as currencies from Turkey to Argentina slid are proving a Wall Street maxim, according to Brian Barish of Cambiar Investors LLC: selling can start anywhere.
Bank Julius Baer & Co. is buying emerging Asian stocks most tied to the global economy for the first time since January, betting steelmakers and shipbuilders will surge 25 percent in the next year as growth rebounds.