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China: Stocks rocket 8% at open after weekend rescue moves


[SHANGHAI] China stocks exploded higher on Monday after Beijing enacted an unprecedented series of policy moves to support the market over the weekend.

The CSI300 index rose 7.7 per cent to 4,186.24 points by 0130 GMT, while the Shanghai Composite Index gained 7.0 per cent to 3,943.00.

China CSI300 stock index futures for July rose 6.7 per cent, to 4,228.6, 42.36 points above the current value of the underlying index.

Hong Kong's Hang Seng index added 0.7 per cent, to 26,238.72 points.

The Hong Kong China Enterprises Index gained 1.9 per cent, to 12,850.86.