Economics
Chinese Stocks Rise as Drug Makers Advance, Banks Decline
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Chinese stocks rose for a third day, the longest winning streak in five weeks, as gains among drug and liquor companies overshadowed declines by financial shares.
Yunnan Baiyao Group Co., which makes traditional Chinese medicine, jumped to a record high on optimism regulators will take steps to support the industry. Kweichow Moutai Co., the nation’s largest liquor maker, climbed to a one-month high on speculation product prices have bottomed. Industrial Bank Co. slid 2.3 percent, leading financial companies to the biggest loss among industry groups.