Asian stocks are rallying for the first time in five days, stemming a worldwide sell-off that wiped US$1.5 trillion from the value of global shares.

The downward trend began last Tuesday when the Shanghai stock market dropped over 9 percent. Other Asian markets began to tumble and by the end of the week the European and American markets where in decline as well, leading many to look at China as the cause for the general downturn.

But China’s fall cannot be blamed for the global re-positioning of markets. As the New York Times reported, many economists and strategists predicted that volatility could increase sharply in Asian markets as investors pull back from speculative investments and redirect assets to more mature markets, and as other investors look for buying opportunities.