Shanghai led gains across the Asia-Pacific region, reaching a 10-month high, amid optimism for a global recovery following unexpected growth in the Australian economy and solid housing data from the US.
The Shanghai Composite index gained 2 per cent to 2,778.589. Banks and property companies were in favour, with Shanghai Pudong Development Bank raising its daily 10 per cent limit to Rmb28.73, and Citic Securities rising 3.1 per cent to Rmb26.90. China Vanke, the property developer, gained 2.8 per cent to Rmb10.84 in Shenzhen.
