Apple Inc., ending six years of negotiations, struck a deal to sell the iPhone through China Mobile Ltd., giving both companies a means to fight declining share in the market of 1.2 billion wireless subscribers.
The Bank of New York Mellon China ADR Index, which tracks American depositary receipts, gained 2.8 percent, the most in a month, to 371.38. The New York Stock Exchange China Index advanced 2.3 percent to 224.52. The Shanghai Composite Index added 0.9 percent to 2,415.05.
China Mobile Ltd., the world’s biggest phone carrier by users, reported third-quarter profit that missed analysts’ estimates amid increased costs to compete for subscribers who use smartphones to download games and music.
China Unicom (Hong Kong) Ltd. , China’s second-biggest mobile-phone operator, offered a cheaper iPhone package amid rising competition with larger rival China Mobile Ltd. in the world’s biggest wireless-phone market.