Benchmark Shanghai index surges by 1.77%

Shanghai stocks rose on Monday, led by gains of agriculture and building materials.

The benchmark Shanghai Composite Index surged 1.77 percent to close at 3,443.29 points. The smaller Shenzhen Component Index soared 3.5 percent to 14,149.14 points.

The ChiNext ended 3.99 percent higher at 2,889.43 points, while the blue chip CSI300 Index added 2.10 percent to 4,852.96 points.

Trade volume on the two major bourses added up to 1.67 trillion yuan (US$238 billion), up 59.9 billion yuan from the previous session.

As for individual shares, nearly 264 listed firms posted gains of more than 9 percent, while three enterprises declined by over 9 percent.

Monday’s rises were mainly led by the sharp increases in agriculture and building materials due to rises in the price of agriculture and pock products, analysts said.

On the STAR Market, 111 of the 123 listed firms advanced, while the others posted losses. National Silicon Industry Group Co rose the most by 20 percent to hit the daily limit, while Jiangsu Yunyong Electronics and Technology Co dropped 8.86 percent.

Guotai Junan Securities said investors should pay attention to blue chip shares, including brokerage, insurance and non-ferrous metals sectors. The company also noted that as the interim report disclosure approaches, the market may move following the interim financial results.