China stocks gain for second day

Mainland China's stock market advanced for second day in row on Friday, 28 August 2015, amid speculation that the government had restarted buying in a bid to boost market confidence. Sentiment also got a lift on news that Chinese pension funds will invest $313 billion in stocks and other assets as soon as possible and reports that Chinese government would ease restriction on property purchases by overseas institutions and individuals. The benchmark Shanghai Composite Index spurted 148.76 points, or 4.82%, to 3232.35. The Shenzhen Composite Index, which tracks stocks on China's second exchange, rose 5.4%, or 94.61 points, to 1846.83. The ChiNext Index, which tracks China's NASDAQ-style board of growth enterprises, gained 6.26%, or 122.63 points, to close at 2082.12.

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