Chinese stocks touch high as investors rush in after long holiday

CSI 300 Index briefly reaches 5,930, eclipsing record set in October 2007

20210217 CHINA STOCKS Shanghai Stock Exchange

Chinese stocks have gained 41% since the end of 2019, or double the increase enjoyed by the S&P 500, thanks in part to foreign buying of mainland stocks. © Reuters

NARAYANAN SOMASUNDARAM, Nikkei Asia chief banking and financial correspondent

February 18, 2021 11:38 JST

Updated on February 18, 2021 16:47 JST

HONG KONG -- Chinese stocks briefly raced to a record on Thursday as trading resumed after the weeklong Lunar New Year holiday, but gains were short-lived as investors weighed the implications of rising bond yields.

The CSI 300 Index, which tracks the biggest stocks traded in Shanghai and Shenzhen, broke through the high reached in October 2007 in early trading as Chinese equities caught up with the biggest global market rally since 2009.