Economics
China’s Stocks Rise for First Time in Three Days; SAIC Jumps
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China’s stocks rose for the first time in three days, led by automakers and commodity producers, after vehicle sales surged and U.S. manufacturing grew faster than estimated.
SAIC Motor Corp., the nation’s biggest carmaker, jumped the most in more than a year. Jiangxi Copper Co. and China Shenhua Energy Co. advanced as metal and oil prices climbed. Offshore Oil Engineering Co. gained 3.2 percent after the Shanghai Securities News said China may invest in offshore drilling equipment. Ping An Insurance (Group) Co. rallied 3.9 percent as a two-month trading suspension was lifted after the insurer said it will take control of Shenzhen Development Bank Co.