China Stocks Rise for Fourth Day as Industrial Companies Climb

Chinese stocks advanced for a fourth day, led by industrial and technology companies, amid speculation government efforts to spur the economy will support the world’s second-largest equity market.

The Shanghai Composite Index advanced 1 percent, poised for its highest close in nearly three months, after a holiday on Monday. China Cosco Holdings Co. headed toward a one-month high as a gauge of industrial companies climbed the most among industry groups. PetroChina Co. paced losses for Chinese shares in Hong Kong after crude extended its retreat for a third day.

The Shanghai equity measure rose to 3,038.58 at the 11:30 a.m. break after falling 0.5 percent earlier. The benchmark has dropped 14 percent this year and is still among the world’s worst-performing stock gauges. The CSI 300 Index added 1 percent, with all 10 industry groups advancing.

Source: Bloomberg

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China Stocks Fall as Technology, Industrial Companies Retreat

Chinese stocks fell amid speculation recent gains for the benchmark index were overdone relative to the outlook for the economy and earnings.

The Shanghai Composite Index slid 1.1 percent to 2,897.53 at 9:52 a.m. , led by technology and industrial companies. The benchmark gauge rebounded 10 percent from last month’s low through Wednesday as the government stepped up policy support ahead of the annual National People’s Congress, where delegates will sign off on a new five-year economic plan. Officials from the world’s largest economies are gathering in Shanghai this week for the G-20 meetings.

Source: Bloomberg

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