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China: Shares close up more than 3%


[SHANGHAI] Chinese shares rallied more than three percent on Monday, with Shanghai ending above the symbolic 4,800 level, led by heavyweight blue-chips and supported by ample market liquidity, dealers said.

The benchmark Shanghai Composite Index surged 3.35 percent, or 156.20 points, to 4,813.80 on turnover of 1.1 trillion yuan (S$241.2 billion). It was the highest close since January 21, 2008.

The Shenzhen Composite Index, which tracks stocks on China's second exchange, rose 1.61 per cent, or 44.15 points, to 2,785.07 on turnover of 912.1 billion yuan.

The Hong Kong stock market was closed for a public holiday.