Shanghai: Stocks have best day in 3-1/2 months

[SHANGHAI] China stocks extended their rebound on Tuesday, closing at a three-week high, drawing inspiration from a jump in oil prices, a rally in European equities and a stabilising yuan.

Investors also gained confidence from upbeat comments from China's premier, who hinted of fresh stimulus if the economy slowed further, and record-smashing loan data in January.

The Shanghai Composite Index jumped 3.3 per cent, to 2,836.57 points, enjoying its best performance in 3-1/2 months.

The blue-chip CSI300 index advanced 3.1 per cent, to 3,037.04.

REUTERS