Mainland stocks buck downswing

SHANGHAI - Stocks on the Chinese mainland rebounded on Wednesday from a three-week low after an indicator of the nation's economic outlook advanced and investors speculated that recent declines spurred by Japan's biggest earthquake on record were excessive.

Aluminum Corp of China Ltd surged by 10 percent, erasing a six-day, 7.5 percent drop. Jiangxi Copper Co rose 3.29 percent. Inner Mongolia Baotou Steel Rare-Earth Hi-Tech Co jumped to the highest in more than four months after an industry official said domestic demand is rising.

"It's a rebound after the markets overreacted globally," said Wu Kan, a fund manager at Dazhong Insurance Co, which oversees $285 million. "The excessive losses create opportunities for undervalued stocks at the moment."