Market remains bullish despite tightening

China's bullish stock market hit a fresh high Monday despite the most aggressive monetary tightening by the central bank last week, the Standard of Hong Kong reported. Some fund managers and analysts said that if the market continues to climb it could leave stocks vulnerable to a bigger pullback. The Shanghai Composite Index opened more than 3% lower Monday after the central bank announced late Friday it was hiking interest rates, raising bank reserve ratios and widening the yuan's trading band. But the index jumped as much as 1.32% to 4,083.416 points during trading yesterday, exceeding the previous record high of 4,081.426 set last week. It ended the day up 1.04% at 4,072.225.