China Stocks Rise to 2-Month High as Leaders Vow to Help Europe
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China’s stocks rose to a two-month high after Premier Wen Jiabao and the central bank governor said they will help Europe resolve its debt crisis, easing concerns an export slowdown will worsen and curb growth.
Jiangxi Copper Co. and Aluminum Corp. of China Ltd. led a rally for metal producers after China pledged to invest in Europe’s bailout funds and sustain its holdings of euro assets. China Cosco Holdings Co., the world’s largest operator of dry-bulk ships, rose to its highest in two months on optimism Greece will commit to budget cuts to secure a second bailout package. Pingdingshan Tianan Coal Mining Co. advanced 2.6 percent after Shenyin & Wanguo Securities Co. recommended buying the stock.