Bloomberg-- Asian equities rose as investors digested China’s better-than-expected economic data and additional stock buyback program details from the country’s central bank.
Shares in China and Hong Kong extended gains after the People’s Bank of China said it set up a relending mechanism with an initial 300 billion yuan ($42.1 billion) quota for bank loans used in share buybacks. Earlier, data also showed that the nation’s latest gross domestic product, industrial production and retail sales figures beat estimates.
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