The Shanghai Composite Index rose 87.401 points on Monday to close at a 15-week high of 3,275.048, the South China Morning Post reported. The rally was prompted by expectations that the state visit of US President Barack Obama could usher in an export recovery. The close took the index above the 3,200-point level, seen as psychologically significant; many analysts have said they expect it to fluctuate between 2,800 points and 3,200 points this year. Despite the market’s reaction, Obama’s visit is not expected to produce concrete agreements. The leader, who spoke yesterday at a "town hall" meeting in a Shanghai university, has reportedly struggled to find opportunities to interact directly with Chinese people.