Asia stocks rise as stimulus, policy hopes calm nervous investors

TOKYO: Asian stocks rose on Monday as hopes of more stimulus from central banks around the world and steps being taken by major economies such as Germany and China soothed investors' fears of a sharp global economic slump.

Australian stocks added 0.7per cent, South Korea's KOSPI advanced 0.5per cent and Japan's Nikkei rose 0.7per cent. Moreover, in a move viewed as a guided rate cut China's central bank on Saturday unveiled key interest rate reform on to help steer borrowing costs lower for companies and support a slowing economy caught in the grip of a bruising trade war with the United States.The yen , a gauge of risk sentiment due to its perceived status as a safe haven, weakened for its third successive session.

"Sentiment in the markets appeared headed for a one-way rout, but policy hopes following reports of the German stimulus have helped halt the steady deterioration," said Ayako Sera, senior market strategist at Sumitomo Mitsui Trust.

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