China's Stocks Rise as New Economy Companies Jump; Citic Drops
- Investors rotate to consumer, drug shares before trade data
- Citic Securities slumps after two executives lose contact
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China’s stocks rose for the fifth time in six days as health-care, technology and consumer-discretionary companies rallied, overshadowing declines for brokerages after Citic Securities Co. said it has been unable to contact two executives.
The Shanghai Composite Index added 0.3 percent to 3,536.93 at the close as trading volumes slumped 35 percent from the 30-day average. China will cut the trading hours for stock-index futures contracts and introduce a circuit-breaker mechanism from January, the government announced Friday. Citic Securities fell 1.9 percent after it said two members of its eight-person executive committee, its highest decision-making body, can’t be reached.