Equities rise as PMI jumps for third straight month

SHANGHAI - Most stocks on the Chinese mainland rose as growth in the manufacturing industry overshadowed concern the nation's tight monetary policies will restrict economic expansion.

China Shipbuilding Industry Co and Changchun Faway Automobile Co climbed at least 1.7 percent, leading gains among industrial companies, after a purchasing managers index advanced for a third straight month in February.

Jiangsu Hengrui Medicine Co led a gauge of healthcare stocks to the biggest drop among 10 industry groups in the CSI 300 Index on speculation the government may introduce policies at this month's meeting of the National People's Congress that may curb prices of drugs.