Airlines Top Rally as PMI Outlook Propels Gains: China
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Chinese equities rose for a third day in New York, led by China Eastern Airlines Corp., on prospects manufacturing expanded for a fifth month, helping sustain a recovery in the world’s second-largest economy.
The Bloomberg China-US Equity Index of the most-traded Chinese companies in the U.S. climbed 0.2 percent to 94.02 yesterday, trimming its February loss to 6.2 percent. China Eastern, the second-largest domestic carrier, surged the most in seven weeks after BOCOM International Holdings Co. recommended buying airline stocks. Spreadtrum Communications Inc. led technology stocks higher. 7 Days Group Holdings Ltd. climbed after agreeing to a going-private deal at a higher price.