Most Asian stocks went up, led by a surge in China and Hong Kong, as investors believe that the recent financial stimulus from Beijing will stabilize China’s slumping stock market. Shares in Hong Kong and mainland China advanced, building on the significant gains seen on Wednesday, following the surprising announcement from the People’s Bank of China to reduce the reserve requirement ratio for banks next month and suggesting further actions in the future. However, stocks in South Korea and Japan saw declines. SK Hynix Inc., the world’s second-largest producer of memory chips, experienced a drop as investors evaluated its fourth-quarter performance and the prospects for the chip industry. Meanwhile, US equity futures remained relatively unchanged.
