Chinese Stocks Advance to Four-Week High on Stimulus Speculation
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Chinese stocks rose, sending the benchmark index to its highest level in four weeks, as industrial and financial companies rallied on speculation the government will do more to cushion the economic slowdown.
China State Construction Engineering Corp. and Power Construction Corp. of China advanced more than 8 percent, while China Railway Construction Corp. led gains by rail-related stocks. A gauge of financial shares jumped 3.3 percent, reversing an earlier 1.1 percent loss. Citic Securities Co. and Haitong Securities Co. climbed more than 4 percent.