Asian markets follow Wall Street higher on upbeat news from China, US

Stocks in Asia are mostly higher, boosted by moves by China to rev up its economy. The Hang Seng in Hong Kong advanced 3.7% and the Shanghai Composite index jumped 2.1% after China’s central bank cut the reserve requirement for banks on Friday as part of measures announced this week to help the property industry and boost markets. Japan's Nikkei 225 index was up 1% as the ruling Liberal Democratic Party conducted a leadership election that will determine who is Japan’s next prime minister. On Thursday, the S&P 500 added 0.4% to set an all-time high for the third time this week. The Dow Jones Industrial Average gained 0.6%, and the Nasdaq composite rose 0.6%.