China market climbs to 8-week high

The Mainland China's stock market surged on Friday, 16 October 2015, on the back of firming speculation that Beijing will announce more stimulus to achieve year-end growth targets. The Shanghai Composite Index spurted 1.6%, or 53.28 points, to close at 3391.35 points, the highest level since 21 August 2015 when index closed at 3507.74. The Shenzhen Composite Index, which tracks stocks on China's second exchange, ascended 1.32%, or 25.68 points, to 1966.95. The ChiNext Index, which tracks China's NASDAQ-style board of growth enterprises, grew 1.58%, or 44.50 points, to close at 2449.03. The benchmark Shanghai Composite Index surged 6.5% this week.

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