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The Asian Development Bank cut its growth forecasts for China and said its waning appetite for raw materials would hurt commodity-focused export economies such as Mongolia and Indonesia.

The downdraft from China is rattling economies of its trade-reliant Asian neighbours and prompting many Western companies to reduce investments and look for ways to cut costs.

– Kuala Lumpur’s main index rose 1.37 percent, or 23.22 points, to close the day on 1,723.14. The Nasdaq composite rose 17.05 points, or 0.3 percent, to 5,128.78. Margin debt surged fivefold over the preceding 12 months, propelling the Shanghai Composite to a 150 per...