Pursuits
China’s Stock Index Rises, Led by Banks, Consumer Staples Shares
This article is for subscribers only.
China’s benchmark stock index rose for the third time in four days as gains for banks and consumer staples producers overshadowed losses for metal companies.
China Merchants Bank Co. advanced for a seventh day amid speculation financial shares were undervalued relative to earnings prospects. Kweichow Moutai Co. climbed the most in three months after the company said its controlling shareholder boosted its stake. Xinjiang Urban Construction Co. led a rally for Xinjiang-related companies on expectations they will benefit from urbanization in western China. Jiangxi Copper Co. slid the most in three weeks after metal prices fell yesterday.