China stocks, yuan jump in heavy trade on hopes of economic stimulus

Shanghai

CHINESE investors jumped back into stocks on Monday in heavy volume trade that pushed prices to seven-week highs, boosted by hopes for more economic stimulus after the central bank expanded a scheme that increases banks' ability to lend.

Comments from Yi Gang, deputy governor of the People's Bank of China (PBOC), also added to the more positive market tone. He was quoted in official media as saying that the stockmarket correction was "almost over".