China’s stocks rose, sending the benchmark index to the steepest weekly gain in a month, after the Shanghai Securities News reported the city may reform state-owned enterprises and auto sales exceeded estimates last month.
Shanghai No. 1 Pharmacy Co. (600833) rallied 10 percent on speculation SOE reform would improve profitability. SAIC Motor Corp., China’s largest carmaker, climbed to a four-month high. Xinjiang Goldwind Science & Technology Co., the biggest wind-turbine maker, also jumped by the daily limit to lead gains for industrial stocks on prospects for higher shipments.
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Bloomberg News via CHINA US Focus http://feedproxy.google.com/~r/ChinaUsFocus/~3/qc2pEoHa3OU/
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