Stocks rally after long holiday

Shanghai and Shenzhen stock exchanges rallied Monday on the first day of trading after the long Lunar New Year holiday, the South China Morning Post reported. The Shanghai Composite Index, which tracks A and B shares, rose 2.35% to close at 1,287.63 points, its highest level for 10 months, while Shenzhen's Composite Index gained 2.86% to 315.9 points. The best performers were non-ferrous metals and property stocks, with Jiangxi Copper and Yunnan Copper both rising 10% after prices hit record highs on the London Metal Exchange last week. Mainland stocks climbed 3.24% in Hong Kong yesterday, lifting the H-share index to 6,403.51 points. The Hang Seng Index rose 0.76 per cent to 15,548.06 points.