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Chinese stocks rallied for the fifth-straight day Wednesday, notching a new high just three weeks after last month's one-day plunge.
Investors were buying technology and mobile stocks after China Mobile (CHL Quote) released upbeat earnings. The Shanghai Composite rose 25 to 3057, underlining investors' bullish take on the region's prospects in the prosperous but volatile tech sector.
China Mobile said fourth-quarter earnings rose 23% from a year ago as it attracted more than 14 million users, mainly in rural areas of China. China Mobile also gained 6.3 million users in January, taking its subscriber rolls to 467.4 million users. Shares have risen 8% over five days. ...
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