Baidu Rises on Video Site Plans as Chalco Jumps: China Overnight
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Chinese stocks rallied a fourth day in New York as Baidu Inc. rose on prospects Internet video acquisitions will bolster its mobile presence and Aluminum Corp. of China Ltd. led gains among energy and commodity producers.
The Bloomberg China-US Equity Index of the most-traded Chinese stocks in the U.S. climbed 1 percent to 94.17 yesterday, the highest level since March 11. Baidu, owner of China’s most-used online search engine, rose to a one-week high. Aluminum Corp. surged the most in four months and Yanzhou Coal Mining Co. jumped while Mindray Medical International Ltd. slid after first-quarter sales trailed analysts’ estimates.