Asia Rallies on Speculation Central Banks Will Dump Stimulus Into the Economy

“Asian stocks rose, with the benchmark index headed toward its biggest gain in almost three weeks, amid speculation China will do more to boost growth and after U.S. housing starts jumped to the highest in four years.

The Hang Seng China Enterprises Index (HSCEI) of mainland companies jumped 2.4 percent as the country’s swap market signaled a further reduction in the reserve ratio requirement for banks. BHP Billiton Ltd. (BHP), Australia’s biggest oil producer, increased 3.1 percent as crude prices exceeded $90 a barrel for the first time since May. Man Wah Holdings Ltd. (1999), a sofa maker which gets more than half of its sales from the U.S., climbed 4.9 percent in Hong Kong.”

Full article