Shares soar on fuel price hike, manufacturing
China Daily | Updated: 2009-06-02 08:09
China's stocks advanced, driving the benchmark index to its biggest gain in three months, after manufacturing expanded for a third month and prices of raw materials rallied.
"The pick-up in the economy is better than expected and that's giving investors a strong reason to buy," said Wu Kan, a Shanghai-based fund manager at Dazhong Insurance Co.
The Shanghai Composite Index rose 88.35, or 3.4 percent, to 2721.28 at close, its largest gain since March 4. The CSI 300 Index added 3.6 percent to 2858.34.
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