China benchmark slips 0.15%

Asian stocks rose for a third day running on Wednesday as weak U.S. economic data bolstered investor hopes for a Federal Reserve interest rate cut next month.

Gold hit a two-week high as the dollar and U.S. Treasury yields eased on rate cut expectations. Oil recovered some ground after closing at a one-month low in the previous session on signs a Ukrainian peace deal is getting closer.

China's Shanghai Composite index slipped 0.15 percent to 3,864.18 as Chinese state-backed property developer Vanke's bonds tumbled, reigniting market concerns about the company's recovery prospects and broader real-estate risks. China Vanke shares slumped 6.3 percent in Hong Kong.

 

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