China’s stocks rose on their first day of trading after a weeklong holiday as rallies for technology and small-company shares overshadowed manufacturing and services data signaling an economic slowdown.
Anhui Conch Cement Co., China’s biggest cement producer by market value, plans to add as much as 30 million metric tons to capacity through acquisitions amid a government drive to consolidate production.
China’s stocks fell, dragging the Shanghai Composite Index below 2,000 for the first time in almost six months, as factory output and business spending slowed while concern grew that share sales will divert funds.
China’s stocks rose, sending the benchmark index to a one-month high, as Anhui Conch Cement Co. led a rally for material companies and the government signaled measures to reduce coal supply that may boost industry prices.
China’s stocks rose to the highest level since October, led by steel, material and drug companies, as a drop in money-market rates eased concern of a cash squeeze before the resumption of initial public offerings next month.