Economics
China’s Stocks Post Longest Monthly Winning Streak Since 2009
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China’s stocks rose, capping the benchmark gauge’s longest stretch of monthly gains since 2009, amid speculation the government is accelerating market reforms and restructuring of state-owned companies.
Huaneng Power International Inc. climbed to the highest level in three months months as Citic Securities Co. said reform expectations will boost power producers in the medium term. Bank of Ningbo Co. and Bank of Nanjing Co. led gains for lenders, jumping more than 8 percent. Baoshan Iron & Steel Co. advanced to a one-month high after recording its biggest profit in five quarters. China Railway Group Ltd. fell 1.4 percent, paring this week’s rally to 30 percent.