China’s stocks rise to 19-month high

China’s stocks rose to a 19-month high, led by developers, after policy makers eased real-estate curbs for the first time since the global financial crisis. China Vanke Co. (000002) and Poly Real Estate Group Co., the biggest developers, both advanced at least 2.8 per cent. Yunnan Baiyao Group Co. drove a rally for drugmakers with a 10 per cent advance. Jiangxi Copper Co. and PetroChina Co. declined at least 1.5 per cent in Hong Kong after the International Monetary Fund cut its world growth outlook. The Shanghai Composite Index (SHCOMP) climbed 0.8 per cent to 2,382.79 at the close, spured by a 1.7 per cent jump in a gauge of property stocks. The CSI 300 Index rose 1.1 per cent. Hong Kong’s Hang Seng China Enterprises Index (HSCEI) dropped 0.3 per cent as of 3:21 p.m., paring a loss of as much as 1.4 per cent, while the Hang Seng Index slid 0.4 per cent. The Bloomberg China-US Equity Index retreated 0.7 per cent, according to bloomberg.com