China Stocks Rise for Second Day as Shanghai Covid Cases Decline
- CSI 300 Index gains 0.7%, energy stocks lead advance
- State Council’s meeting also likely aided sentiment: Pang
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Chinese stocks gained as investors drew comfort from signs that the twin Covid outbreaks in Shanghai and Beijing are stabilizing, and as policy makers stepped up efforts to bolster the economy.
The CSI 300 Index ended 0.7% higher on Thursday after climbing as much as 1.2% earlier. A sub-gauge of energy shares rallied 6% to be the best performer among sector indexes, boosted by solid earnings from China Shenhua Energy Co.