Giant Jumps as Stimulus Bets Trigger ADR Rally: China Overnight
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Chinese stocks traded in New York rose for a second day, as Giant Interactive Group Inc. surged the most since April, on prospects the government will take steps to shore up flagging growth in Asia’s largest economy.
The Bloomberg China-US Equity Index of the most-traded Chinese companies in New York added 1.1 percent to 89.95 at the close of trading in New York. Online game developer Giant Interactive advanced 6 percent and software developer VanceInfo Technologies Inc. climbed the most since February. Melco Crown Entertainment Ltd. rose for the first time in three days after the Philippines’ Belle Corp. said it’s in talks with the Macau casino operator to set up a gambling complex in Manila.