The largest exchange-traded fund of Chinese equities jumped to a two-week high in the U.S. and the nation’s leisure and travel companies gained after growth in the Asian economy accelerated for the first time in two years.
Short seller Jon Carnes made millions of dollars publishing anonymous reports accusing Chinese companies of fraud. Now settled in Vancouver after fleeing threats of violence in China, he’s trying another business model: providing tips to the U.S. government.
Chinese stocks will probably climb this week as the widening of the yuan’s trading band is seen as a move toward further liberalization of the world’s second- largest economy, according to Baochuan Capital Management LLC.
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.
Emerging-market stocks rose for the first time in five days as China announced measures to bolster growth in the world’s second-largest economy and investors bet central banks will take more actions to stimulate spending.