China’s stocks rose, spurring the benchmark index’s biggest gains in a week, after the central bank eased the cash shortage in the financial system and phone-equipment maker ZTE Corp. returned to profit.
Shanghai Pudong Development Bank Co. climbed 1 percent after the People’s Bank of China expanded a lending facility to include smaller lenders. Haitong Securities Co. jumped the most in seven weeks on speculation initial public offerings will boost profits. Zhejiang Wolwo Bio-Pharmaceutical Co. soared in its debut in Shenzhen as seven out of eight companies that began trading today rallied 45 percent. ZTE, the second-biggest phone-equipment maker, rose the most in almost three weeks.
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Weiyi Lim, Bloomberg via CHINA US Focus http://ift.tt/Kzq29U
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