Chinese stocks traded in New York rose the most in a month, with Internet companies leading gains, after the Federal Reserve said it will buy mortgage securities to bolster growth in the world’s biggest economy.
Chinese stocks traded in New York gained and Sina Corp. rose to a six-week high on prospects the slowest industrial output growth in three years will prompt the government to take further easing steps to boost the economy.
Sina Corp. gained, helping Chinese shares traded in New York to a five-month high, after analysts recommended buying the nation’s Internet companies as users climb and their stock trades cheaper than peers in the U.S.
Chinese stocks trading in the U.S. rose from a two-month low, led by gains in Huaneng Power International Inc. and China Eastern Airlines Ltd., on speculation policy makers may take steps to spur growth.
Sina Corp., owner of the Twitter- like Weibo service in China, plunged to a 15-month low after the company said that Beijing’s municipal government will force microblog users to verify their identifies.
Chinese stocks trading in the U.S. posted the biggest weekly drop in three months as Baidu Inc. and Yanzhou Coal Mining Co. declined on concern the economic slowdown in the world’s second-largest economy is worsening.