China's Stocks Jump on Support Pledge as Deals Spur Developers
- It's too early for rescue fund to leave, CSRC chief Liu says
- China Overseas, Vanke rally after unveiling asset purchases
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Chinese stocks climbed the most in more than a week after the new head of the securities regulator signaled he will keep propping up the equity market and developers announced acquisitions.
The Shanghai Composite Index advanced 1.8 percent, with more than 50 shares rising for each one that fell. China Vanke Co. jumped the most in more than a year in Hong Kong after saying it plans to pay as much as 60 billion yuan ($9.2 billion) for a stake in Shenzhen’s urban transit company. China Overseas Land & Investment Ltd. climbed to the highest close this year after saying it’ll acquire Citic Ltd.’s property assets.