The China stock market has climbed higher in four straight sessions, advancing almost 90 points or 3.2 percent along the way. The Shanghai Composite Index now rests just beneath the 2,885-point plateau and it's got a solid lead again for Tuesday's trade.
The global forecast for the Asian markets is positive on renewed hopes for stimulus and optimism over trade talks between the United States and China. The European and U.S. markets were up and the Asian markets are tipped to open in similar fashion.
The SCI finished sharply higher on Monday with broadly based support - particularly from the financials and properties.
For the day, the index spiked 59.28 points or 2.10 percent to finish at the daily high of 2,883.10 after moving as low as 2,829.85. The Shenzhen Composite Index surged 46.49 points or 3.05 percent to end at 1,571.97.
Among the actives, Industrial and Commercial Bank of China shed 0.55 percent, while Bank of China added 0.28 percent, China Construction Bank fell 0.28 percent, China Merchants Bank collected 0.40 percent, China Life Insurance soared 3.36 percent, Ping An Insurance perked 1.13 percent, PetroChina climbed 1.31 percent, China Petroleum and Chemical (Sinopec) jumped 1.41 percent, China Shenhua Energy spiked 1.89 percent, Gemdale accelerated 1.58 percent, Poly Developments surged 3.10 percent, China Vanke gained 2.28 percent and CITIC Securities skyrocketed 8.44 percent.
The lead from Wall Street is solid as stocks moved significantly higher on Monday, continuing to offset the sell-off last Wednesday.
The Dow jumped 249.78 points or 0.96 percent to 26,135.79, while the NASDAQ climbed 106.82 points or 1.35 percent to 8,002.81 and the S&P 500 rose 34.97 points or 1.21 percent to 2,923.65.
The strength on Wall Street came amid a continued rebound in bond yields on optimism about new global stimulus. The People's Bank of China said it would use market-based reform methods to help lower real lending rates and prop up a slowing economy.
News that President Donald Trump's administration is once again delaying restrictions on Chinese tech giant Huawei also generated buying interest.
Crude oil futures settled sharply higher on Monday after a drone attack sparked fire in a remote Saudi oil and gas field, while renewed optimism about U.S.-China trade talks also fueled the surge. West Texas Intermediate crude oil futures for September ended up $1.33 or 2.4 percent at $56.14 a barrel.
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