China: Stocks fluctuate after benchmark posts weekly advance

[SHANGHAI] China's stocks swung between gains and losses after the benchmark Shanghai gauge posted its biggest weekly gain in more than a month.

The Shanghai Composite Index added 0.2 per cent to 3,584.89 at 9.42am local time. It dropped as much as 0.4 per cent earlier. The measure climbed 4.2 per cent last week, led by property developers, after data showed home prices increased in more cities. Energy companies slid as oil extended its slump, while consumer and health-care stocks rose.

The Shanghai gauge has rebounded 22 per cent from an August low after the government took unprecedented measures to prop up equities and speculation grew policymakers will take more measures to bolster the economy.

BLOOMBERG