Equities surge on hopes of better industrial earnings

The mainland's stocks rose to a two-week high after profits at industrial companies surpassed pre-crisis levels in the past three months and the government raised price caps for rural purchases of home appliances.

China Petroleum & Chemical Corp, Asia's biggest oil refiner, also known as Sinopec, gained 1.7 percent. China Shenhua Energy Co, the nation's largest coal producer, added 1.9 percent.

GD Midea Holding Co, China's second-biggest publicly traded appliance maker, climbed to a 19-month high, and Hisense Electric Co, a manufacturer of flat-panel televisions, surged to a record 5.8 percent.