Stocks strong following US agreement

China stocks performed strongly on Monday after the United States and China agreed on a preliminary "phase one" trade deal on Friday.

The benchmark Shanghai Composite Index rose 0.56 percent to 2,984.39 points. The smaller Shenzhen Component Index, meanwhile, jumped sharply by 1.54 percent to 10,158.24 points, and the blue chip CSI300 index closed 0.49 percent to 2,987.55 points.

Wang Yi, China's foreign minister, said on Saturday that the phase-one China-US deal was bullish news for both countries and the rest of the world.

China's economic data for November, released on Monday, indicated recovery, according to the National Statistics Bureau.

Turnover on the two major bourses added up to 622.62 billion yuan, compared with the previous session's 565.6 billion yuan.

Stocks of 74 companies listed on the A-share markets surged by the daily limit of 10 percent, according to data from China Finance Online.

Overseas capital continued to flow into the Chinese mainland markets via the Stock Connect schemes linking Hong Kong with the mainland, with the net inflow reaching 701 million yuan, to be the 23th consecutive session posting a net inflow.

Technology-related shares led the rise. Among them, over 10 electronic component firms posted gains hitting the 10 percent daily cap, according to data from Wind Information, while the computer sector saw six A-share-listed companies soar by the daily maximum.

The national defense and military industry was also among the biggest gainers, with Navtech Inc and Xi'an Tianhe Defense Technology Co both up by 10 percent.

Electrical equipment firms, communication shares and the real estate sector all performed strongly.

On the SSE STAR Market, 65 of its 66 firms posted gains, with only Beijing Hotgen Biotech Co dipping 0.15 percent.