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.