China Stocks Rally as Miners Gain on Output Cuts, Economic Data
- Aluminum smelters pledge to halt new mills, idle more capacity
- Shipping companies plunge in Hong Kong after merger plan
China Economy Boosted by Industrial Output, Retail
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China’s stocks rallied the most in five weeks as miners rallied on the prospect of production cuts to bolster prices and data showed the world’s second-biggest economy is stabilizing.
The Shanghai Composite Index climbed 2.5 percent to 3,520.67 at the close. Gauge of material producers and financial companies jumped the most among industry groups. China’s aluminum smelters pledged Friday to halt new mills and forecast that the nation’s idled capacity would rise by the end of the year.