China’s Stocks Rise Most in 4 Months on Moody’s, Holiday Sales

China’s stocks rose the most in four months after Moody’s Investors Service put the nation’s debt rating on review for a possible upgrade, retail sales surged and the yuan climbed to its strongest against the dollar since 1993.

PetroChina Co. and China Shenhua Energy Co. gained more than 2 percent, leading a rally for energy and raw-materials stocks, after Moody’s cited China’s growth outlook for a possible upgrade and producers tracked gains in commodity prices during the National Day holiday. Kweichow Moutai Co., a maker of baijiu liquor, advanced the most in a month after Xinhua News reported retail and catering sales jumped 19 percent during the holiday. Air China Ltd. rose 4.5 percent as a stronger Chinese currency will reduce the cost of financing U.S. debt.