12.10.201500:54:58UTC+00Chinese stocks headline Asian equities advance on stimulus bets

China's shares led the surge of Asian equities Monday despite speculation the Chinese government will bolster stimulus and as Malaysian ringgit retreated with US equity-index futures.

For a seventh time in eight days, the Hang Seng China Enterprises Index rose 2% in Hong Kong, while the Shanghai Composite Index gained 3.4%, trading at around 12% above its recent troughs.

The MSCI Asia Pacific added 0.7% following it leaped 6.5% last week, while the MSCI Emerging Markets Index increased 0.7%. The MSCI All-Country World Index accrued 4.4%.

In China, property and material shares bounced as Premier Li Keqiang said the country will amplify fiscal support for shantytown redevelopment.

The People's Bank of China has reduced the amount of cash lenders must allocate as reserves three times this year, as well as the interest rates five times since November.