Most Chinese Stocks Advance on Support Measures; Chalco Jumps
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Most Chinese stocks rose as government measures to bolster equities overshadowed concern housing demand will weaken and the election of a new president in France may deepen Europe’s debt crisis.
About four stocks climbed for every three that fell on the Shanghai Composite Index, which slipped 0.07 point to 2,451.95 at the close. Agreements made in U.S.-China talks last week such as a higher dividend payout ratio for listed state-owned enterprises and the opening of the securities market to more investors are positive for stocks, Citigroup Inc. said. Chinese regulators may soon introduce so-called “seed funds” to invest in the stock market, it said.