China?s Stocks Rebound as Copper Producers, Automakers Rise

Posted by tjdetai on July 13th, 2015


Jan. 27 (Bloomberg) -- China’s stocks rebounded after copper producers surged as an improving U.S. economy boosted metal prices. Developers declined after the government intensified measures to curb gains in property prices.

Jiangxi Copper Co., the biggest maker of the metal, jumped the most in a week as copper prices climbed after U.S. new-home sales beat estimates and the Dow Jones Industrial Average surged above the 12,000 level. Chongqing Changan Automobile Co. led an advance for automakers after saying net income may have increased up to 95 percent in 2010. China Vanke Co. and Poly Real Estate Group Co., the nation’s two largest developers, tumbled by more than 4 percent after the government boosted the minimum down payment requirement for second-home purchases.

The Shanghai Composite Index, which tracks the bigger of China’s stock exchanges, added 3.4, or 0.1 percent, to 2,712.21 as of 10:37 a.m, erasing a drop of as much as 1.2 percent. The CSI 300 Index rose 0.2 percent to 2,984.57. China’s markets will be closed from Feb. 2 to 8 for the lunar new year holiday.

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