Banks, realty developers lead share rally

China's stocks rose, driving the benchmark index to a 13-month high, as banks and developers gained on optimism the government will allow more money to pump into the financial system to cement an economic recovery.

The International Monetary Fund said China has scope to boost State spending to counter rising unemployment, while the Asia Development Bank said East Asian governments should retain expansionary monetary policies.

The Shanghai Composite Index added 31.88, or 1 percent, to 3328.49 at the close, the highest close since June 2008. The measure has surged 83 percent this year.