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Markets

Hopes of Chinese economic recovery lift Asian stocks

Blue-chip CSI300 index soars more than 5% to highest level in over five years

TOKYO/HONG KONG -- A surge in shares in China and Hong Kong propelled a broader Asian market advance on Monday as investors grew more optimistic about quick economic recovery and Chinese state media supported a rally that has pushed the mainland's blue-chip stock index to a five-year high.

China's CSI300 index of the largest Shanghai and Shenzhen listed shares surged 5.7% on Monday, the biggest rise since February 2019. The index rose to its highest level since June 2015 on Friday and has climbed 12% this year, the biggest rise among major global stock indexes. Hong Kong's Hang Seng index gained 4.2% and has climbed 16% from its March 23 lows.

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