Shanghai stocks see biggest one-day gain in more than five years
SHANGHAI Jan 21 (Reuters) - China shares soared on Wednesday, with the Shanghai Composite Index producing its biggest one-day percentage gain in more than five years as investor confidence continued to recover after Monday's plunge.
The CSI300 index of the largest listed companies in Shanghai and Shenzhen rose 4.5 percent, to 3,548.88, while the Shanghai Composite Index climbed 4.7 percent, to 3,323.61 points. That was its biggest one-day gain since October 2009.
Two days earlier, both indexes tumbled 7.7 percent, their biggest falls since 2008.
The financial sub-index leapt 6.5 percent while the property sub-index surged 4.7 percent.
"Investor sentiment has recovered and Chinese share markets are still bullish," said Zhang Yanbin, an analyst at Zheshang Securities in Shanghai.
Haitong Securities hit its 10 percent daily trading limit while CITIC Securities climbed 7.7 percent. Both stocks plummeted by the maximum daily limit of 10 percent on Monday after falling foul of the regulators on Friday following investigations into margin trading.
Among the most active stocks in Shanghai were Bank of China , up 9.9 percent to 4.89 yuan; CITIC, up 7.7 percent to 28.75 yuan and Agricultural Bank of China , up 5.3 percent to 3.76 yuan.
In Shenzhen, Guosen Securities, up 4.0 percent to 24.11 yuan; VANKE, up 5.7 percent to 13.05 yuan and BOE Technology, up 2.9 percent to 3.19 yuan were among the most actively traded.
Foreign investment flowing into Shanghai from Hong Kong through the mutual market access pilot programme took up 2.13 billion yuan of the 13 billion yuan daily quota.
Total volume of A shares traded in Shanghai was 41.0 billion shares, while Shenzhen volume was 21.1 billion shares. (Reporting by Sue-Lin Wong, Chen Yixin and the Shanghai Newsroom; Editing by Richard Borsuk)
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