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    Chinese Stocks Swing Between Gains and Losses Before Flash PMI

    23.02.12

    Feb. 22 (Bloomberg) -- China’s stocks rose for a fourth day on speculation Shanghai, the nation’s financial center, will relax property curbs to prevent slumping home prices from undermining the world’s second-biggest economy.

    China Vanke Co. and Poly Real Estate Group Co. led a gauge of property companies to its highest level in three months after the Shanghai Securities News reported the city eased some home purchase restrictions. Industrial & Commercial Bank of China Ltd. and Bank of China Ltd. slid after the same paper said lending by the four biggest banks may be down from January. China’s manufacturing may shrink for a fourth month in February, a survey of purchasing managers indicated.


    Source: BusinessWeek

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