Asian shares rose, with the benchmark index climbing after the biggest slump this month, and metals rebounded. Crops extended declines and India’s rupee strengthened to the highest in more than seven months.
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, with the regional benchmark index rebounding after yesterday dropping the most in two weeks. Japanese shares swung between gains and losses as the central bank kept monetary policy unchanged.
Holders of bonds sold by Shanghai Chaori Solar Energy Science & Technology Co. will consider a lawsuit to force payment after the company became the first to default on onshore corporate debt in China.
China’s central bank Governor Zhou Xiaochuan said deposit rates will be liberalized in one to two years, as the nation expands the role of markets even amid an economic slowdown and risks from a credit boom.
China’s benchmark money-market rate slid to the lowest level since May 2012 on speculation the central bank’s yuan sales aimed at curbing exchange-rate gains have increased cash in the financial system.