Asian stocks are rising after an upbeat report on the US economy calmed investors’ nerves following days of stomach-churning turbulence sparked by a heavy sell-off in China.
Japan’s benchmark Nikkei 225 index led regional gains, adding 2.5% to 19,020.35 after lacklustre economic data raised hopes of further stimulus.
The Shanghai Composite Index in mainland China rose 1.2%t to 3,120.25, adding to gains the day before, when it posted its first gain in six days by ending 5.3% higher.
South Korea’s Kospi climbed 1.4% to 1,933.98 while Hong Kong’s Hang Seng added 0.9% to 22,042.26. Australia’s S&P/ASX 200 edged up 0.2% to 5,243.40.
Major US benchmarks ended higher after a report indicated the US economy expanded much faster in the second quarter than previously thought.