China’s stocks swung between gains and losses after the benchmark index hit a 15-month high. Property developers advanced, while energy companies declined.
China Vanke Co. led gains for developers amid speculation the government is allowing them to issue mid-term notes in the interbank market to reduce their funding costs. Industrial and Commercial Bank of China Ltd. climbed to a one-month high after Central Huijin Investment Ltd. said the government may reduce stakes in the nation’s biggest banks. Yanzhou Coal Mining Co. slid 2.6 percent, halting a five-day, 14-percent rally.
The Shanghai Composite Index slipped 0.1 percent to 2,286.12 at 10:22 a.m. local time. The Hang Seng China Enterprises Index (HSCEI) advanced 0.3 percent, extending yesterday’s 3.2 percent jump, on a rally for insurers. The CSI 300 Index slipped 0.2 percent.