Shanghai Composite zooms 1.74%
Capital Market Mainland China stock market finished the session at highest level in 8-months on Monday, 04 August 2014, on speculation the government is accelerating state-owned enterprise reform and relaxing rules to help brokerages free up capital for expansion. The benchmark Shanghai Composite gained 1.74%, or 38.03 points, to close at 2223.33, the highest level since 10 December 2013, when it was closed at 2237.49. Turnover declined to 140.08 billion yuan from yesterday's 151.19 billion yuan.
Risk sentiments improved on positive market comments from the country's top securities regulator. A China Securities Regulatory Commission (CSRC) spokesman on Friday described the recent rally in China's stock market as a "rebound" due to improving performance in the economy, more liquidity, and market reforms, including the planned Shanghai-Hong Kong stock market connector pilot programme.
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