Asian stocks extend global rally on US data, China stimulus

A global stock market rally continued Wednesday on bright US data, China's stimulus, steadier oil prices and growing hopes of more eurozone monetary policy easing, dealers said. Shanghai soared almost 4.3 percent, despite news that Moody's has downgraded the outlook on China's sovereign bonds from stable to negative. Tokyo surged 4.1 percent, driven also by the weaker yen which boosts exporters, and Hong Kong jumped 3.1 percent.