SHANGHAI, Nov 28 (Reuters) - China indexes rose for the seventh straight session on Friday and produced their biggest monthly gains in nearly two years, thanks to a surge after Beijing’s surprise rate cut.
However, technical indicators show the main indexes being overbought, which could leave them vulnerable to profit-taking in the near-term.
The CSI300 index of the largest listed companies in Shanghai and Shenzhen rose 2.0 percent to 2,808.82, the highest level since September 2011, while the Shanghai Composite Index gained 2.0 percent to 2,682.83, the highest level since August 2011.
For the month, the CS1300 was up 12 percent while the SSEC gained 10.9 percent, the biggest monthly gain since December 2012.
Among the most active stocks in Shanghai on Friday were Agricultural Bank of China up 6.3 percent to 2.86 yuan; China Everbright Bank, up 10.14 percent to 3.80 yuan and China Minsheng Banking Corp, up 8.59 percent to 7.33 yuan.
In Shenzhen, Ping An Bank gained 10.0 percent to 12.44 yuan. (Reporting by the Shanghai Newsroom; Editing by Richard Borsuk)