China's stocks advance for third day on easing economic concerns

SHANGHAI - Stocks on the Chinese mainland rose for a third day as better-than-estimated US data eased concern the global recovery is faltering.

China Cosco Holdings Co, the world's largest operator of dry-bulk ships, jumped the most in five months. Shanghai East-China Computer Co, a computer products provider, surged by the 10 percent daily limit. China Vanke Co paced declines by developers after the regulators told banks to tighten lending for real estate.

The Shanghai Composite Index added 0.45 percent to 2593.17 at the 3 pm close. Stocks on the index trade at 11.9 times estimated earnings, the lowest since January 2006, according to weekly data compiled by Bloomberg. The CSI 300 Index increased 0.29 percent to 2875.36.