Shanghai Composite Index Tops 3,000 for First Time Since 2011
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China’s Shanghai Composite Index surpassed 3,000 for the first time in three years and a gauge of the nation’s biggest companies capped a record winning streak on optimism shares will extend their world-beating rally.
Citic Securities Co. and Haitong Securities Co., the nation’s biggest securities firms, jumped 10 percent, adding to gains of at least 75 percent over the past month. Ping An Insurance (Group) Co. surged 9.6 percent. Sany Heavy Industry Co. rose the most in a decade. PetroChina Co. added 2 percent.