Asian stocks on Monday were close to wiping out all their losses since China’s shock currency devaluation in August, as global equities rallied after the Chinese central bank cut rates to shore up faltering growth in the world’s second-largest economy. Japan’s Nikkei (.N225) rose 1.0 percent to a two-month high while South Korea’s Kospi (.KS11) gained 0.4 percent and the Australian shares (.AXJO) edged up 0.3 percent. MSCI’s dollar-denominated index of Asia-Pacific shares outside Japan dipped 0.1 percent due to the dollar’s strength but stood near 2-1/2-month highs touched on Friday.