CSI300 sees biggest one-day rise since 2012 as stock indices shake off tumble

The CSI300 index of largest mainland-listed firms rose 4.9% on Monday to 5,076.18, marking its largest single-day rise since December of 2012, Reuters reported. The Shanghai Composite Index also gained 4.7% to reach 4,828.74 points, its biggest rise in four months. Both indices appeared to have shaken off Thursday plunges of more than 6% that were followed by a leveling off on Friday. “The pattern in a bull market is that immediately after a plunge, money will pile in, pushing the market higher,” said Wang Yu, an analyst at Pacific Securities in Beijing. “To many investors, the rout last week means a huge reduction in market risks, creating new buying opportunities.”