Chinese stocks rose after a unit of nation’s sovereign wealth fund boosted its stakes in the biggest lenders, overshadowing concern regulators will resume approving initial public offerings next month.
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.
China’s benchmark stock index fell before tomorrow’s industrial production data as a slump in energy producers overshadowed gains for financial companies. The Hang Seng China Enterprises Index approached a bear market.
China’s stocks rose, with a gauge of utilities surging the most in two years, on speculation the government will introduce measures to boost economic growth at a Communist Party meeting and after the largest oil companies reported increased profit.
Chinese stocks fell, sending the Hang Seng China Enterprises Index to its biggest weekly drop since October, amid deepening concern that weaker economic growth will curb earnings and spur corporate defaults.