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China’s Stocks Advance on Speculation of State Purchases

China’s stocks rose, with a gauge of mainland shares traded in Hong Kong climbing the most in a week, as speculation that state-linked investors are buying equities overshadowed concern that the economy is slowing.

Yanzhou Coal Mining Co., the fourth-biggest Chinese coal miner by market value, increased at least 2.5 percent in both Hong Kong and Shanghai. China Petroleum & Chemical Corp., also known as Sinopec, climbed 2.2 percent after the Shanghai Securities News reported the refiner may open its shale gas business to private investment. Preliminary manufacturing data due tomorrow is expected to signal a fifth month of contraction.