Asian stocks erased losses as Japanese and Australian shares rebounded amid speculation yesterday’s decline on the regional benchmark index was excessive.

Nikkei 225 11,385.94 +76.81 +0.68%

Hang Seng 22,790.63 -116.04 -0.51%

S&P/ASX 200 5,018.15 +38.05 +0.76%

Shanghai Composite 2,314.16 -11.79 -0.51%

Commonwealth Bank of Australia, the nation’s largest lender, rose 1.1 percent after the central bank governor said interest-rate cuts should be given time to do their work.

Tosoh Corp. jumped 4.3 percent in Tokyo on a report the chemical maker developed materials that prevent lithium ion batteries from catching fire.

Belle International Holdings Ltd. declined 5.5 percent in Hong Kong as analysts from Nomura Holdings Inc. and CCB International Securities Ltd. downgraded the shoe retailer.