Shares in mainland China and Hong Kong surged as state media threw its weight behind a rally driven on hopes of a swift economic recovery from the coronavirus pandemic.
China’s CSI 300 index of Shanghai- and Shenzhen-listed shares jumped as much as 5.8 per cent on Monday, the biggest one-day rise since February 2019. The surge extended recent gains after closing at a five-year high on Friday.
Hong Kong’s Hang Seng index added 3.7 per cent to technically enter a bull market, usually defined as a 20 per cent rise.
The positive sentiment swept into the European trading session, as the regional benchmark Stoxx 600 climbed 1.7 per cent at the open on Monday, while London’s FTSE 100 added 1.9 per cent.
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