China stocks hit nine-month high

China's stocks extended gains to a nine-month high, on optimism the government will boost spending on infrastructure and that efforts to curb property price gains will send money back into equities.

The Shanghai Composite Index advanced 0.1 percent at the close on Tuesday, firming in the final minutes of trading. Baoshan Iron & Steel Co rose 2.2 percent after reporting its best quarterly performance since 2012. China Communications Construction Co, a transportation infrastructure group, slipped 4.3 percent in its first decline in nine trading sessions. The Hang Seng Index lost 0.2 percent.

China's gross domestic product has increased at a 6.7 percent clip for three straight quarters, spurring optimism the economy has stabilized. State-owned companies have advanced on bets the government will speed up a structural overhaul and boost spending on large public projects. Chinese authorities in at least 21 cities have introduced home-buying curbs, ranging from raising down-payment requirements to purchase bans. The value of China's new home sales rose 61 percent in September from a year earlier.