Pursuits
Chinese Stocks Advance Most in Two Weeks as Turnover Shrinks
- Health-care companies rally on improving earnings prospects
- UBS says Hong Kong traders should be worried amid defaults
Are Chinese Stocks Headed for a Correction?
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China’s stocks rose the most in almost two weeks in thin trading as investors sought havens in shares with improving earnings growth prospects such as health-care companies amid volatility in commodity futures markets.
The Shanghai Composite Index climbed in the last hour of trading to close 0.6 percent higher. Trading values fell to 134.1 billion yuan ($20.6 billion), a low seen only four times since 2014. Beijing SL Pharmaceutical Co. and Aier Eye Hospital Group Co. surged at least 5 percent. Material shares were the worst performers, with Yunnan Copper Co. sliding 1 percent after swinging to a first-quarter loss. The Hang Seng China Enterprises Index halted a two-day slide.