The mainland's equity gauge jumped 2.7% on Monday after banks' new loans surged to a record in January and off-the-balance-sheet lending reversed declines, raising expectations that economic growth will pick up on increasing financing demand.
Guangzhou Pearl River Industrial Development and Guangzhou Port led the gains among companies based in the southern province of Guangdong after Beijing unveiled a long-heralded plan to create the Greater Bay Area by linking Hong Kong and Macau with cities in Guangdong.
A gauge tracking stocks linked to the Greater Bay Area climbed. Property developer Guangzhou Pearl River surged by the 10% daily limit to 5.02 yuan and Guangzhou Port also jumped by that much to 4.84 yuan. Shenzhen Yan Tian Port Holding gained 10% to 6.46 yuan.
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