Asian stock markets enjoyed a positive session as regional leaders pledged to keep economic stimulus measures in place, although robust Japanese growth figures had only a limited impact.

Chinese stocks set a strong pace, with the Shanghai Composite index climbing 2.7 per cent – its best performance for more than a month – to 3,275.05, a three-month high.

Speculation that “hot money” was flowing into China, amid mounting pressure for renminbi appreciation, helped fuel buying of stocks, analysts said.

“While it may be presumptuous for investors to expect a shift in renminbi policy to be decided by [US President] Obama's visit, we believe that a continued recovery in China's exports and global commodity price increases will improve prospects for the renminbi to resume a gradual climb against the dollar next year,” said Jing Ulrich, chairman China equities and commodities at JPMorgan. “Such expectations, combined with the return of modest inflationary pressures, are boosting the risk appetite for renminbi assets.”

Energy stocks rose as unseasonably cold weather hit northern China and disrupted coal transport. China Shenhua Energy rose 5.9 per cent to Rmb37.59 and Yanzhou Coal added 6.6 per cent to Rmb21.40.

Hong Kong advanced to a 16-month peak, with financials leading the way. Industrial and Commercial Bank of China climbed 2.4 per cent to HK$6.96. HSBC gained 2.6 per cent to HK$97.10.

CPMC had a positive debut. Shares in the food packaging group rose as high as HK$7.05, up 31 per cent from its offer price, before easing back to close 13 per cent higher at HK$6.11.

The Hang Seng index rose 1.7 per cent to 22,943.98, its best level since July 2008.

Tokyo lagged behind as data showing that Japan's economy had grown at the fastest pace for two years between July and September triggered only a brief bounce in stocks.