China's benchmark index logged its worst quarterly loss since the financial crisis
Stocks in Asia settled higher today, though most major regional indexes notched heavy losses for the third quarter. Tokyo-listed equities recovered from the previous session's slump, as weaker-than-forecast data on retail sales and industrial production raised expectations for additional stimulus measures. Shanghai's benchmark index shed more than one-third of its value during the July-September period, but ended today modestly higher ahead of Thursday's release of fresh manufacturing data and the start of the country's week-long National Holiday.
Meanwhile, traders in South Korea returned from their own holiday break to a volatile session, with early losses giving way to a higher close amid strength in blue chips like Hyundai and Samsung Electronics. By the close, Japan's Nikkei rose 2.7%, Hong Kong's Hang Seng advanced 1.4%, South Korea's Kospi climbed 1%, and China's Shanghai Composite edged up 0.5%.
European markets are on the upswing at midday, taking their cues from Asia's month-ending rally and Wall Street's modestly positive Tuesday finish. Auto stocks -- including Daimler and Peugeot Citroen -- are among the big gainers, after China said it will halve sales taxes on small cars. As with Asia, though, most regional bourses are on pace to swallow their steepest quarterly declines in years. At last check, the French CAC 40 is up 2.8%, the German DAX has gained 2.6%, and London's FTSE 100 is 2.4% higher.
