At closing bell, the benchmark Shanghai Composite Index added 2.64%, or 86.39 points, to 3,358.47. The Shenzhen Composite Index, which tracks stocks on China's second exchange, rose 3.31%, or 73.40 points, to 2,289.36. The blue-chip CSI300 index advanced 3.03%, or 142.02 points, to 4,823.16.
China's state council published on Friday the Opinion on Further Improving the Quality of Listed Companies, which includes exploring more long-term evaluation mechanisms for institutional investors to attract more mid and long-term funds.
CURRENCY NEWS: China's yuan pulled back from a 17-month high after a policy tweak by the central bank. Over the weekend, the People's Bank of China (PBOC) lowered the reserve requirement ratio for financial institutions when conducting some foreign exchange forwards trading to zero from 20%, effectively lowering the cost of shorting the Chinese currency.
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