Asian stocks advance as renminbi snaps decline

Asian stocks rose, with the benchmark index climbing from a seven-month low, as China's currency stemmed its plunge after the central bank signaled support.

Inpex Corp, Japan's biggest oil explorer, rose 1.1 percent as crude futures advanced. Foxconn Technology Co, whose products include Apple Inc's iPhone, jumped 8.1 percent in Taipei after earnings beat analyst estimates. SoftBank Group Corp slid 2.6 percent in Tokyo after its biggest investment in Alibaba Group Holdings Ltd tumbled in United States trading.

The MSCI Asia Pacific Index gained 0.1 percent to 138.37 in Tokyo. The People's Bank of China, the central bank, said it supports a strong, stable yuan in the long term after its Tuesday decision to devalue the currency roiled global markets.