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China's Stocks Rise Most in Three Months as New Loans Hit Record

  • Policy makers may release package of growth steps, report says
  • Technology, industrial companies lead gains in Shanghai
Bloomberg business news

China Steps Up Support for Its Economy

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China’s stocks rallied the most in three months, led by technology and industrial companies, after data showed the nation’s banks doled out a record amount of loans in January.

The Shanghai Composite Index climbed 3.3 percent to 2,836.57 at the close, paring its decline this year to 20 percent. PetroChina Co. advanced 2.6 percent. New yuan lending jumped to 2.51 trillion yuan ($390 billion) last month, beating analyst estimates. Hong Kong’s Hang Seng China Enterprises Index extended Monday’s advance. The yuan weakened after having its biggest gain in more than a decade.