Chinese stocks rose for a third day, led by commodity producers, after foreign direct investment in the country climbed for the first time in 11 months and metals prices rose.
The Shanghai Composite Index added 6.99, or 0.2 percent, to 3,033.73 at close, after swinging between gains and losses at least eight times. The CSI 300 Index, measuring exchanges in Shanghai and Shenzhen, rose 0.3 percent to 3,302.64.
"Stocks will fluctuate for a while until investors have a clearer view of the economy and earnings," said Li Jun, a strategist at Central China Securities Holdings Co.
The Shanghai index has advanced 46 percent in the past year since the collapse of Lehman Brothers Holdings Inc, the best performer globally.
Yanzhou Coal Mining Co, the listed unit of China's fourth-biggest coal miner, jumped the daily 10-percent limit to 19.21 yuan.
China Coal Energy Co, the nation's second-largest coal producer, gained 1.9 percent to 12.94 yuan.
Copper rose as much as 1.8 percent on the Shanghai Futures Exchange yesterday, rebounding from an eight-day low. Copper gained as much as 0.7 percent in London and aluminum added 0.3 percent.
Jiangxi Copper, China's biggest producer of the metal, rose 4.3 percent to 41.13 yuan. Aluminum Corp of China, the nation's biggest maker of the lightweight metal, added 4.5 percent to 15.10 yuan.
An increase in the nation's air traffic drove Air China Ltd 3.8 percent higher to 8.66 yuan. China Southern Airlines Co rose 1.8 percent to 5.61 yuan.
Chinese airlines have made a combined 8 billion yuan profit this year as of Sept 12, said Li Jiaxiang, head of the Civil Aviation Administration of China. The nation's carriers have rebounded from a travel slump last year.
Tire producer Double Coin Holdings Ltd jumped the 10-percent daily limit to 20.91 yuan, erasing Monday's 10-percent slump, after saying a US imposition of tariffs on imported tires won't affect second-half sales.
Guizhou Tire Co gained 4.4 percent to 15.61 yuan. The company said tires affected by the US action accounted for 1.6 percent of the company's total sales in the first seven months of this year. The stock lost 6.7 percent on Monday.
Hang Seng falls
Hong Kong shares slid 0.31 percent yesterday afternoon after a severe tropical storm forestalled the morning session, with investors staying away for fresh incentives despite stronger mainland stocks and overseas markets.
Alibaba.com lost 11 percent after Yahoo! Inc sold its 1-percent direct holding in China's top e-commerce company.
The benchmark Hang Seng Index lost 65.83 points to 20,866.37, while the China Enterprises Index, which represents top locally listed mainland stocks, edged down 0.01 percent at 12,156.07.
Source:China Daily
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