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Chinese Stocks Advance for Third Straight Week on Stimulus Bets

China’s stocks rose, sending the benchmark index to a third week of gains, amid speculation the government will take more measures to bolster the economy before a top-level Communist Party meeting starts next week.

The Shanghai Composite Index added 1.3 percent to 3,412.43 at the close., taking this week’s gain to 0.6 percent. Liquor maker Kweichow Moutai Co. jumped 4.2 percent after reporting an increase in third-quarter profit. China Vanke Co. climbed 2.9 percent after home prices increased in more Chinese cities.

The Shanghai gauge has risen 12 percent in October, heading for the first monthly advance since May, amid speculation the government will loosen monetary policy and announce more overhauls of state-owned enterprises to support growth. China is making more money available to local governments for financing infrastructure projects this year amid concerns about flagging economic growth, according to people familiar with the matter. The Communist Party meets for its fifth plenary session starting Oct. 26.

“Investors are focusing on the plenum,” said Gerry Alfonso, a sales trader at Shenwan Hongyuan Group Co. in Shanghai. “The market expectation is that the plenum will continue with its policies to support the economy, particularly in strategically important sectors. The authorities seem determined to support the economy...