The Shanghai Composite Index (SCI) gained 3.2% on Friday to close at 2,971.2 points, its largest weekly gain since February 2009, the South China Morning Post reported. At mid-day on Monday, the index had risen nearly half a percent, and was testing the 3,000-point level. Friday’s rally was driven by banking stocks on expectations of higher earnings: Industrial and Commercial Bank of China (601398.SH, 1398.HK) rose 6.6%, while Bank of China (601988.SH, 3988.HK) rose 4.3%. Strong lending figures are expected to support healthy bank profits. The SCI remains down around 9% for the year to date, but is no longer Asia’s worst-performing index.