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Asia rebounds as stimulus hopes grow


Tuesday 04.00 BST. Asian shares rebounded after suffering big losses in the previous session, regaining some poise as investors focused on hopes for stimulus measures from policy makers to bolster the global economy.

The MSCI Asia Pacific index gained 0.9 per cent after a four-day losing streak left the regional index at its lowest level this year. Japan’s Nikkei 225 was up 0.5 per cent, South Korea’s Kospi Composite added 0.7 per cent and Australia’s S&P/ASX 200 was 1.4 per cent higher. Hong Kong’s Hang Seng index rose 0.9 per cent while China’s Shanghai Composite index added 0.2 percent.

Investors are awaiting the G7 leaders’ conference call later in the day, the European Central Bank’s policy decision on Wednesday and US Fed chairman Ben Bernanke’s congressional testimony on Thursday amid growing hopes policy makers will take action to address the eurozone crisis and support the faltering global economy.

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