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Shanghai: Stocks close up 3.28%

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Shanghai stocks closed up 3.28 per cent on Monday, ahead of the release of economic data, on hopes the government will further ease monetary policy to support the flagging economy, dealers said.

[SHANGHAI] Shanghai stocks closed up 3.28 per cent on Monday, ahead of the release of economic data, on hopes the government will further ease monetary policy to support the flagging economy, dealers said.

The benchmark Shanghai Composite Index jumped 104.51 points to 3,287.66 on turnover of 435.5 billion yuan (US$68.7 billion) after surging as much as 4.26 per cent during the day.

The Shenzhen Composite Index, which tracks stocks on China's second exchange, soared 4.18 per cent, or 75.65 points, to 1,887.28 on turnover of 489.7 billion yuan.

AFP

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