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Shanghai index jumps 4.3%, biggest daily gain in 2 years
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SHANGHAI’S benchmark stock index had its biggest daily gain in two years as investors snapped up shares of brokerages and blue chips over expectations of further economic stimulus.
The Shanghai Composite Index gained 4.3 percent to 2,899.46 points, posting its biggest daily gain since December 2012. The rally for stocks is people to open stock accounts at the fastest pace in three years.
“The market is surely in a bull run,” said Zhang Qi, an analyst at Haitong Securities.
Sinopec Co, Asian's largest oil refining enterprise, and its counterpart Petro China Co lead today's gains. Both surged the daily limit of 10 percent with Sinopec closing at 6.25 yuan (US$1.01) and Petro China at 9.21 yuan.
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