Chinese stocks climb to four-month high

China's stocks climbed to a four-month high, led by China Cosco Holdings Co after the Baltic Dry Index advanced for a 14th straight day. Beijing Capital Development Co gained after home sales at China Vanke Co rose.

China Cosco, the world's largest operator of dry-bulk ships, rose the 10 percent limit as the Baltic Dry Index, a gauge of commodity shipping costs, advanced a 14th day, boosting prospects for rates generally. Beijing Capital, owned by the municipal government, added 5.8 percent after Vanke, the nation's biggest developer, posted its first gain in home sales in eight months.

The benchmark Shanghai Composite Index rose 43.48, or 2 percent, to 2,224.71, the highest close since Sept 26. The CSI 300 Index, which measures shares on both of China's exchanges, advanced 2.7 percent to 2,296.67.