China’s stocks rose as agricultural companies rallied on speculation the government will introduce reforms to boost the industry. Technology shares climbed after falling the second most among 10 sectors in the past month.
Baidu Inc. isn’t allowed to offer guaranteed returns on fund products sold on the Internet, China’s securities watchdog said, as the country’s largest search engine joins competitors in expanding into finance.
China’s securities watchdog is forging ahead with rules that allow brokers to invest in complex financial products and enter risky new businesses even after an unprecedented $3.8 billion trading error roiled markets.
China’s likely search for a successor to Zhou Xiaochuan as central bank chief is spurring focus on the nation’s banking and securities regulators as the incoming Communist leadership overhauls top government positions.
China’s banking regulator, in his first public comments since the country’s worst cash crunch in at least a decade, said the operations of its lenders won’t be disrupted because they’ve built up sufficient cash reserves.