Shares edge up on robust growth forecast

SHANGHAI: Mainland stocks rose for the first time in five days as the nation's improving economic prospects bolstered retailers and consumer companies, overshadowing concern new share sales will divert money from existing equities.

Kweichow Moutai Co, China's biggest producers of baijiu liquor, advanced 1.5 percent to 167.77 yuan after the government said it's targeting 8 percent growth in 2010 and an 11 percent gain in industrial production. Wuliangye, the second largest, gained 5.4 percent to 29.25 yuan. Tsingtao Brewery Co, China's second-biggest brewery by volume, advanced 2.9 percent to 34.47 yuan.

Bank of Nanjing Co, partly owned by BNP Paribas SA, slid 1.9 percent to 18.6 yuan on plans to sell shares in a rights offer on concern new shares will divert funds from existing equities.