BEIJING: China stocks capped their first monthly gain since May as government attempts to stabilize equities bore fruit. Baby-related companies climbed after the ending of the one-child policy, while PetroChina Co. led losses by commodity producers after posting its worst-ever earnings.
The Shanghai Composite Index, which slipped 0.1 percent to 3,382.56 at Friday’s close, rebounded 11 percent this month. Shares of companies from infant formula makers to toy producers jumped after the government said it will allow all couples to have two children. PetroChina, China’s biggest oil and gas producer, dropped 1.9 percent in Hong Kong. Bank of China Ltd. slid to a two-week low in Shanghai after net income fell for the first time since the global financial crisis.
