China’s Stocks Rally for Best Start to a Year Since 1993

China’s stocks rallied in their best start to a year since 1993, as investors piled into shares of the largest companies and developers amid speculation the government will take more steps to bolster economic growth.

PetroChina Co. surged 10 percent to lead a gauge of energy shares to the biggest advance since 2008. China Vanke Co. and Poly Real Estate Group Co. soared more than 7 percent after Beijing signaled it will make it easier for first-time home buyers to borrow money to buy homes. Daqin Railway Co. advanced 5.1 percent after the government scrapped price controls on bulk cargo. Hong Kong Exchanges & Clearing Ltd. jumped 2.7 percent after the Shenzhen Special Zone Daily cited Premier Li Keqiang as saying a trading link should be extended to Shenzhen.