China stocks surge on stimulus hopes, higher commodity prices
HONG KONG, July 4 (Reuters) - China stocks rallied on Monday as higher commodity prices and hopes that Beijing will roll out more stimulus measures boosted resources stocks, as investors built up their position amid ample liquidity in the market.
The blue-chip CSI300 index surged 1.6 percent to 3,204.70, in its biggest intraday percentage gain in more than a month. The Shanghai Composite Index rose 1.90 percent to 2,988.14 points, its highest close since May 5.
Chinese commodities from nickel to cotton surged on Monday on hopes Beijing will unleash more stimulus to prop up a sluggish economy.
Sector performance was strong across the board with a 3.5 percent gain in resources and rises in banks , consumer stocks and healthcare . (Reporting by Michelle Chen and Donny Kwok; Editing by Richard Borsuk)
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