China Goes From Game Clampdown to Sports Boost and Stocks Soar
- Beijing pushes sports as healthy alternative to computer games
- Li Ning gains 5.7%, Anta 4.7%, extending recent gains
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China’s beleaguered equity investors got some welcome relief Wednesday when the government’s latest policy agenda for a healthy nation spurred market gains after recent losses.
Shares of sneaker makers and other sports companies jumped as Beijing launched an effort to increase the numbers of fitness trainers and people exercising regularly over the next five years. Li Ning Co. rose 5.7% while Anta Sports Products Ltd. advanced 4.7%, with both Hong Kong-listed sportswear makers touching fresh highs intraday.