Economics
China Stocks Rise to Three-Month High After Manufacturing Data
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Chinese stocks rose, sending the benchmark index to a three-month high, as a jump in the nation’s manufacturing gauge spurred optimism the government will meet its economic-growth target for this year.
Industrial Bank Co. and Poly Real Estate Group Co. gained more than 5 percent to lead a rally for lenders and developers. Sinolink Securities Co. surged 5.9 percent on speculation new share sales will boost earnings. Ping An Insurance (Group) Co., China’s second-biggest insurer, advanced to a three-month high in Hong Kong. A preliminary Purchasing Managers’ Index from HSBC Holdings Plc and Markit Economics, known as flash PMI, was at an 18-month high of 52, compared with the 51 median estimate.