China: Stocks surge for 3rd day on strong financials

[SHANGHAI] China's stocks surged for the third consecutive session on Friday as investors continued bets on blue chip companies, notably securities brokerages.

The CSI300 index of the largest listed companies in Shanghai and Shenzhen rose 2.4 per cent, to 3,793.37, while the Shanghai Composite Index gained 1.9 per cent, to 3,590.03 points.

The CSI300 index closed the week up by 7.3 per cent, its best week since early June. The composite index rose 6.1 per cent in the week.

The mainland stock indexes are up by more than 25 per cent from the troughs they hit during the August stock crash, and the rally this week has driven trading volumes to a three-month high.

REUTERS