Economics
China Stocks Rebound From Biggest Drop in Six Years on GDP Data
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China’s benchmark stock index rebounded from the biggest loss in six years, led by industrial and consumer companies, after data showed the nation’s economy grew faster than estimated.
CSR Corp. and China CNR Corp. each soared 10 percent to lead a rally for industrial companies. PetroChina Co. jumped 3.4 percent, rebounding from yesterday’s 9.2 percent plunge. Great Wall Motor Co. surged 7 percent to pace gains for consumer companies most reliant on economic growth. Citic Securities Co. and Haitong Securities Co. extended yesterday’s slump, tumbling at least 8.8 percent after they were suspended from loaning money to new equity-trading clients.