Mainland stocks rise for second day as volatility plunges

Chinese mainland stocks rose for a second day, with volatility plunging to 15-month lows, as investors sought companies least exposed to a slowdown in the manufacturing economy.

The Shanghai Composite Index advanced 0.6 percent at the close, led by technology, phone and consumer-staples companies. Price swings in the benchmark gauge slumped to the lowest levels since March 2015 as interest in trading continued to dwindle. Trading volumes in the mainland and Hong Kong bourses were at least 30 percent below the 30-day average. Goertek Inc and Han's Laser Technology Industry Group Co rose after a media report that Apple Inc asked suppliers to prepare production of a new version of its smartphones.

Chinese mainland equities, known for their stomach-churning volatility during a recent speculative boom and bust, have been stuck in range-bound trading this month amid concern about the sustainability of the nation's economic growth.