Asia stocks scale 4-month high on reopening of Chinese economy

ultra-strict curbs on travel and activity, unleashing the virus on the nation's 1.4 billion people. Many funeral homes and hospitals say they are overwhelmed, but investors hope that once the infection waves pass, life and spending can return to normal and are looking beyond the most immediate difficulties.

China's central bank also said overnight it will step up financing support to spur domestic consumption and key investment projects and support a stable real estate market., which touched a six-month high and was last up 1%. Reopening hopes have driven China's yuan to four-month highs and supported regional stocks and currencies.an unofficial ban on Australian coal imports and the Australian dollar made a three-week high overnight just below $0.69. It last bought $0.6818.

Fed committee members noted that "unwarranted easing in financial conditions" would complicate efforts to restore price stability, the"Translating Fed speak, this is a warning to markets, that being too optimistic may ironically backfire," said Vishnu Varathan, Mizuho Bank's head of economics in Singapore.

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