China’s Stocks Gain for Fifth Day as Property Developers Advance
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China’s stocks rose, sending the benchmark index to a 15-month high, as real-estate and financial companies gained on speculation the government is loosening financing curbs.
China Vanke Co. jumped to a one-month high in Shenzhen on a media report the government will allow developers to issue mid-term notes in the interbank market to cut funding costs. China Life Insurance Co. surged 3.5 percent in Shanghai. Chongqing Water Group Co. led gains for utilities. Yanzhou Coal Mining Co. slid 1.1 percent, halting a five-day, 14-percent rally.