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Asia Markets: China stocks lead Asia higher, lifted by commodities

The global equity rebound continued Monday in Asia after U.S. stocks rallied Friday on a solid April jobs report.

The gains were led by China, where indexes rose by more than 1% despite a lack of progress on trade talks with the U.S.

Small-cap companies outperformed, with the startup-heavy ChiNext climbing 1.7%.

Daxiao Li, chief economist at Yingda Securities in Shenzhen, said sentiment on the sector was lifted by China’s late-Friday release of draft rules for depositary receipts. The rules would pave the way for Chinese technology companies listed abroad to also trade on the mainland.

More broadly, the market was helped by recent stock purchases by some major Chinese firms and executives, Li said, as well as a slower pace of initial public offerings.

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