May 26 (Bloomberg) -- China's stocks rose for the third time in four days as commodity prices rallied on the prospect of increased demand from the world's third-biggest economy, boosting the profit outlook for shipping and resource companies.
China Cosco Holdings Co. gained 1.9 percent after marine freight rates increased the most in two months. Aluminum maker Shanxi Guanlu Co. added 0.4 percent after Rio Tinto Group said it expects China's commodity demand to expand. PetroChina Co. and China Shenhua Energy Co. paced the decline among energy producers after Caijing magazine reported the government will impose a tax on oil and gas in the Xinjiang region.
"Commodity producers and shipping lines are relatively cheap after this year's decline," said Wang Zheng, a fund manager at Jingxi Investment Management Co. "It looks like we haven't reached the bottom yet as there isn't any official sign that the government will ease its stance on the property market."
The Shanghai Composite Index, which tracks the bigger of China's stock exchanges, gained 3.16, or 0.1 percent, to close at 2,625.79 after changing direction more than 10 times. The CSI 300 Index was unchanged at 2,813.94.
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