Asian stocks regained some ground after Friday’s sharp fall with resource stocks rising after Wen Jiabao, China’s premier, said the country will focus more on bolstering economic growth.
The FTSE Asia Pacific index gained 0.2 per cent to 218 with Japan’s Nikkei 225 Stock Average up 0.3 per cent to 8,633.89, South Korea’s Kospi Composite index edged 0.9 per cent higher to 1,799.13 and Australia’s S&P/ASX 200 index added 0.7 per cent to 4,073.623.
Nevertheless, Chinese stocks remained under pressure amid concerns about a slowing economy. Hong Kong’s Hang Seng index lost 0.2 per cent to 18,922.32 while China’s Shanghai Composite index was up 0.2 per cent to 2,348.30.
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