Equities surge on credit data

Shares on the Chinese mainland rallied the most in a week on Thursday as credit growth data spurred speculation that authorities are taking steps to support economic growth.

The Shanghai Composite Index advanced 3.5 percent to 3,336.46 points, the most since Jan 5. Aggregate financing was 1.69 trillion yuan ($273 billion) in December, the People's Bank of China said. While new yuan loans missed economists' forecasts, shadow lending rose to the highest in monthly records that began in 2012.

The benchmark index halted a 4.5 percent weeklong slide that spurred concern the nation's $5 trillion stock market was losing momentum after a world-beating rally sent the gauge to the highest level since August 2009. Trading volumes were 52 percent below the 30-day average.