Asian Stocks Advance on China Rate Cut; Indian Trading Halted

Nov. 27 (Bloomberg) -- Asian stocks rose after China lowered interest rates by the most in 11 years to spur growth. India suspended trading after terrorist attacks killed 80 people in Mumbai, the nation's financial hub.

The MSCI Asia Pacific Index gained 2.1 percent to 81.77 as of 11:27 a.m. in Tokyo, a third consecutive advance. The gauge is still down 48 percent in 2008 as the financial crisis sparked a global recession.

``Countries like China still have the weapons and flexibility to control the economy,'' said Masahiko Ejiri, who manages Asian equities at Mizuho Asset Management Co., which oversees $26 billion in Tokyo. ``For some countries the political risk seems too big, so I would avoid them even if I see value. It's much safer to have exposure to stable countries.''