Shanghai Composite rises to 49-month high as financials rally

Mainland China stock market closed at highest level not seen since November 2010 on Wednesday, 17 December 2014, as risk sentiments remained bullish on growing expectations of more monetary easing after gloomy manufacturing data. Shares of lenders and brokerage houses were stronger, helping to offset weakness elsewhere. The benchmark Shanghai Composite was higher by 39.50 points, or 1.31%, to finish at 3061.02, its highest close since November 11, 2010 when it closed at 3147.74.

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