Market wipes loss as airlines glide

China's stocks rose, erasing earlier losses, as airlines, brokerages and coal producers advanced on higher profits.

China Southern Airlines Co and Air China Ltd gained more than 1 percent after swinging to profit in the third quarter. Hong Yuan Securities Co climbed 4.4 percent after reporting a fivefold surge in net income. China Shenhua Energy Co, the nation's biggest coal producer, advanced 1 percent after profit in the first nine months increased.

The Shanghai Composite Index was up 9.87 points, or 0.33 percent, to 3,031.33 at close, reversing a 1.6-percent loss. The gauge slumped 2.8 percent on Tuesday, the most in five weeks, amid concern the government will restrain stimulus efforts. The CSI 300 Index added 0.44 percent to 3,329.33.