China Equities Higher as Shipping Companies Advance

China’s stocks rose, sending the benchmark index to a 19-month high, before the release of HSBC Holdings Plc and Markit Economics’ manufacturing report tomorrow. Industrial companies led the advance.

China Shipbuilding Industry Co., the nation’s largest maker of vessel equipment, jumped 9.2 percent and China CSSC Holdings Ltd. surged 4.3 percent. The HSBC report will probably show the purchasing managers’ index for September was 50.5 last month, unchanged from the previous month’s level. The statistics bureau will release the official manufacturing index on Oct. 1.

The Shanghai Composite Index (SHCOMP) climbed 0.5 percent to 2,359.82 as of 9:54 a.m., set for the highest close since February 2013. The index has advanced 12 percent this year on expectations an exchange link with Hong Kong will fuel fund inflows. Hong Kong’s benchmark Hang Seng Index slid 1.4 percent amid the biggest police crackdown on protesters since the city returned to Chinese rule.

Bloomberg

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