China stocks extend stimulus rally as rest of Asia struggles

TOKYO - Chinese stocks made brisk gains on Wednesday, extending their stimulus-fueled rally to a second day, even as equities in the rest of the region struggled and

Mainland Chinese blue chips advanced 2.4% as of 0511 GMT, following a 4.3% jump in the prior session. Hong Kong'sThe strong start for Chinese stocks briefly invigorated other regional indexes, but those gains soon fizzled, with Australia's benchmark last flat and South Korea's Kospi declining 0.1%.shook off early weakness to rise 0.4%, buoyed mainly by a stabilisation in the yen exchange rate and Wall Street's rise to new record highs overnight.

The odds on another 50-basis point Fed rate cut at the November meeting jumped to 60.4% from 53% a day earlier, according to CME Group's (NASDAQ: "The fall in the underlying measures of inflation is an unexpected and welcomed surprise," said Tony Sycamore, an analyst at IG.

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