The benchmark Shanghai Composite Index broke the 2,000-point mark for the first time in five years on November 20, the Wall Street Journal reported. The index gained 2.31% to finish on 2017.28. The rise – part of a surge that has seen the market post a 74% gain so far this year – has been linked to the first fall in Chinese bank savings in five years as people invested more money in the stock market. Analysts expect the index to continue rising toward its highest ever close of 2242.42, set in June 2001. Meanwhile, Hong Kong's Hang Seng Index fell 1.19% to a six-week low of 18,954.63. The slide was kick-started by investors selling out of HSBC, following a disappointing third quarter performance in the US, and China Mobile. Rumors were circulating that the mobile operator's parent firm will sell its stake in the company, taking advantage of an 82% gain in the share price this year.
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