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Shanghai Composite Enters Bull Market on Economic Growth
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China’s stocks rose, sending the benchmark index into a bull market, on optimism over the outlook for the nation’s economy. Financial and energy shares led gains.
The Shanghai Composite Index climbed 0.5 percent to 2,358.98 at the close, extending its advance since Dec. 3 to 20 percent, a threshold signaling a bull market to some investors. Haitong Securities Co., the second-biggest listed brokerage jumped 7.3 percent, leading a rally for financial shares. Shanxi Lu’an Environmental Energy Development Co. surged 3.1 percent as oil traded near the highest level in four months in New York.