Asian stocks stabilise as China yuan turmoil subsides

Asian stock markets stabilised Thursday after a two-day sell-off sparked by China's currency devaluation. China's yuan fell again but the decline was smaller than before. Japan's Nikkei 225 rose 0.8 per cent to 20,533.61 and South Korea's Kospi gained 0.4 per cent to 1,983.50. Hong Kong's Hang Seng was little changed at 23,904.29 while the Shanghai Composite Index in mainland China slipped 0.9 per cent to 3,852.32. Australia's S&P/ASX 200 advanced 0.6 per cent to 5,411.80. The dollar rose to 124.42 yen from 124.26 yen in late trading Wednesday. The euro slipped to $1.1136 from $1.1156, according to AP.

-SRS