Chinese stocks trading in Hong Kong rose for the first time in three days, paring the worst drop among global equity indexes this quarter, as investors speculated losses were overdone.

The Hang Seng China Enterprises Index in Hong Kong advanced 1.1 percent to 11,161.70 at 9:43 a.m. local time. PetroChina Co. and Jiangxi Copper Co. led gains after commodity prices rebounded overnight. The yuan weakened 0.6 percent against the dollar, extending losses to a third day after a surprise devaluation. The Shanghai Composite Index added 0.2 percent.

The H-share gauge has fallen 14 percent this quarter amid signs China’s growth slowdown is deepening. The world’s second-biggest economy roiled markets this week by depreciating its currency by the most in two decades.

“The yuan fixing signals that the government is willing to do whatever it takes to stabilise growth,” said Bernard Aw, a strategist at IG Asia Pte in Singapore.