Emerging markets - Asian stocks rally on China stimulus; FX muted

BANGKOK (Reuters): Asian equities rallied on Monday as China announced new measures to support its ailing markets, while currencies were struggling for direction, with the Thai baht leading declines after local data pointed to an economic growth slowdown.

Shanghai shares were up 1.1% after opening 5.1% higher, their biggest intraday jump since July 6, 2020. Equities in Jakarta and Singapore rose 0.3% and 1%, respectively.