Economics
China Stocks Advance to Seven-Year High on Stimulus Speculation
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China’s stocks rose to a seven-year high as a gauge of factory output showed production contracting for a third straight month, boosting speculation the government will escalate efforts to stimulate the economy.
China Cosco Holdings Co. and China Shipping Development Co. both jumped by the 10 percent daily limit after the two companies said they plan to form a venture in Singapore. Fiberhome Telecommunication Technologies Co. advanced 2.2 percent after the government said it will accelerate construction of a broadband network. Goldin Properties Holdings Ltd. and Goldin Financial Holdings Ltd., controlled by billionaire Pan Sutong, plunged by a record in Hong Kong.