Mainland markets hit new highs

Mainland stocks hit another new high Monday, powered forward 3.6% by government restraint. Investors expressed confidence in the market after no new market-cooling policies were announced after a high-level work conference on finance, the Wall Street Journal reported. The Shanghai Composite Index jumped to 2933.19. Many analysts expect the Shanghai Composite Index, which tracks A and B shares, to test the 3000 level this week. The markets were also powered forward by comments from China Securities Regulatory Commission Chairman Shang Fulin that the regulator would try to attract mutual funds to China, the newspaper reported. Although Shang did not announce specific moves, analysts saw the comment as expressing renewed confidence in the market.