China Stocks Advance Most in a Month as Developers Lead Gains
- Evergrande interest in Vanke, Langfang boost shares: JK Life
- China Film extends gains to 91% following debut this week
China Stability Falters on Factory Output, Investment
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Chinese stocks rallied the most in a month as stake purchases by China Evergrande Group fueled optimism that the pace of merger activity in the property industry will accelerate.
The Shanghai Composite Index closed 1.6 percent higher, with almost all the gains coming after the midday break. The benchmark gauge of real estate companies surged 4.7 percent, the most since March 2, as Langfang Development Co. and China Vanke Co., both targets of billionaire Hui Ka Yan’s Evergrande, jumped by the daily 10 percent limit.