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Chinese Stocks Rise for Fourth Day as Financial Companies Climb

  • Money-market rates drop as central bank steps up injections
  • Services PMI growth slows from previous month in November
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Chinese stocks rose for a fourth day, led by financial companies, as money-market rates dropped and speculation mounted the government will take steps to bolster growth in Asia’s largest economy.

The Shanghai Composite Index climbed 1.4 percent at the close, extending a three-day, 2.9 percent advance. China Vanke Co. and Bank of China Ltd. led a gauge of financial stocks to a four-month high, while technology stocks climbed. Yanzhou Coal Mining Co. led energy shares higher on reports the government is planning a nationwide renovation of power plants to reduce carbon emissions and air pollution. The gap between prices of dual-listed shares in Hong Kong and Shanghai grew to the widest in three months.