Most stocks rise as Shanghai shares gain on restructuring
Most Chinese stocks rose as Shanghaibased companies rallied on speculation the local government is speeding up State-owned enterprise reform to boost profitability. Benchmark indexes were little changed as investors waited for the outcome of a policy conference. Shanghai Lansheng Corp surged 10 percent after the government approved its restructuring plan and Goldman Sachs Group Inc said SOE reform may reverse the Chinese stock market’s underperformance. About 11 stocks rose for every 10 that fell on the Shanghai Composite, which dropped 0.1 percent to 2,202.80 at the close. The Hang Seng China Enterprises Index slid 1 percent. The government may cut its 2014 economic growth target to 7 percent from 7.5 percent at its annual central economic work conference, the Economic Information Daily said on Dec 4.