BEIJING, Feb. 25 -- Major stock indices in China surged more than 5 percent Monday led by the financial sector.
The benchmark Shanghai Composite Index started the day with a 1.22-percent gain and maintained the upward trend throughout the day to surge 5.6 percent to close at 2,961.28, the highest closing since mid-June 2018.
Trading volume of stocks in the index soared from Friday's 264.5 billion yuan (39.4 billion U.S. dollars) to 466 billion yuan, the highest turnover in more than three years.
The benchmark index has rebounded 18.74 percent since the beginning of the year and surged more than 21 percent from this year's lowest point of 2,440.91 points seen in early January, which marked the entry into "a technical bullish cycle" by some analysts.
The Shenzhen Component Index closed 5.59 percent higher at 9,134.58 points, the highest closing since the end of July 2018, and the turnover of stocks in the index reached an all-time high of 574.6 billion yuan.
China should deepen supply-side structural reform in the financial sector and strengthen the sector's ability to serve the real economy, and economy and finance are interdependent and should grow and thrive together, according to a study session of the Political Bureau of the Communist Party of China Central Committee on Friday.
On Monday, the financial sector was the strongest among all sectors, with the sub-index surging 9.11 percent and all securities brokerage firms surging by the daily limit of 10 percent.
The sector's strength came as the China Banking Association (CBA) and the Securities Association of China both planned to lower the costs of their member institutions, with the CBA expecting to reduce membership fees by 14.5 million yuan in 2019.
Although both plans are designed for the members of the two associations, they have lifted market expectations for industry-wide stimulus in the future.
The ChiNext Index, China's NASDAQ-style board of growth enterprises, gained 5.5 percent to close at 1,536.37 points.
国际英语资讯:Palestine says takes issue of Israeli field executions against Palestinians to ICC
我的朋友宋淑琦
快乐的节日——六一儿童节
The time of day? 钟表时刻
国内英语资讯:China launches TV program for CPCs 100th founding anniversary
国内英语资讯:China urges U.S. to stop arms sales to Taiwan
洛杉矶对付大型聚会有新招:断水断电
国内英语资讯:Scientific expedition completed in South China Sea
肥胖问题不能只看体重!加拿大新临床指南对医生发出警告
国内英语资讯:DPP criticized over obstructing mainland students return to Taiwan for study
那一次,我害怕了
国内英语资讯:Poverty-alleviation relocation basically completed in China
快乐上体育
巴西副总统欢迎华为参与5G竞标,称不惧美方威胁
国际英语资讯:China denounces U.S. suppression of Chinese high-tech firms
国内英语资讯:Draft amendments to better adapt Chinas top legislature to supervisory reform
我的收获
环保卫生,人人有责
国际英语资讯:U.S. political suppression of non-American firms doomed to boomerang: China
百合花