Asian stocks rose Friday, as Thursday gains in China’s stock market and a rally in the U.S. eased concerns that China’s slumping economy would seriously impact global growth.
China’s benchmark index, the Shanghai Composite, rose 4.82% to 3,232.35 points on Friday; Hong Kong’s Hang Seng finished at 21,612.39, down 1.04 percent for the day; Japan’s Nikkei Stock Average surged more than 2%, and South Korea’s Kospi gained 1.4%.
China’s other major indexes — the CSI 500, Shenzhen Composite and tech-heavy ChiNext — rose by more than 5%.
The gains brought some reassurance to global markets, which have spent much of the past week reeling from a mass sell-off on China’s major exchanges.