China’s stocks rose, capping a weekly gain for the benchmark index, as airlines, banks and shipping companies rallied on speculation Shanghai’s Free-Trade Zone will lure more business into the nation’s commercial hub.
Cosco Shipping Co. jumped 10 percent as the Baltic Dry Index surged to its highest level since January 2012 and media reported foreign investors may be allowed to take bigger stakes in shipping joint ventures in the planned zone. Shanghai International Port (Group) Co. soared 10 percent, extending a two-week rally that has seen its shares double. Shanghai Pudong Development Bank Co. led gains for financial companies, while Shanghai-based China Eastern Airlines Co. climbed 5.2 percent.
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