China's stock market rose after a two-week slump as forecasts showed earnings can exceed an economic slowdown.

China's economic performance is still closely watched by analysts and economists because it is one of Australia's top export destinations after the U.S. and Japan.

Top performers in China's stock trading floor include: Jiangling Motors Corp., which jumped 4.6 percent; Beiqi Foton Motor Co. surged 2.8 percent on higher vehicle sales; railcar maker China CNR Corp. went up on the back of gaining new orders.

Jiangxi Copper Co., on the other hand, scored a 4.4 percent increase as commodity prices advanced. This coincided with the rally of most Asian stocks stepping up on the positive news delivered by Intel Corp.'s record second-quarter sales and Singapore raised its 2010 economic growth forecast.

The Shanghai Composite Index, which tracks the bigger of China's stock exchanges, added 25.90, or 1.1 percent, to 2,476.19 as of 1:09 p.m. The CSI 300 Index rose 1.1 percent to 2,662.53.

"The market had already priced in the most pessimistic scenario for earnings," said Dai Ming, a fund manager at Shanghai Kingsun Investment Management & Consulting Co. in a related Bloomberg report. "When there's some positive news out there, it's easy to trigger a rebound and prompt a re-rating of the market among investors."