Beijing - Shares on China's two stock markets jumped by about 2 per cent on Monday, continuing an upward trend from last week. The key Shanghai Composite Index, which tracks shares traded in foreign and local currencies, rose by 44.05 points, or 2.22 per cent, to end the day at 2,030.49 points.
The smaller Shenzhen Composite Index also gained nearly 2 per cent as the markets were buoyed by rising airline stocks after reports that the government planned to invest 3 billion yuan (440 million dollars in China Eastern and China Southern airlines.
News of the government's expected cash injection pushed up China Southern shares by 9.9 per cent and China Eastern shares by the 10 per cent daily limit.
The combined turnover of the two markets hit 131.887 billion yuan (18.841 billion dollars) on Monday, up from 127.9 billion yuan on Friday, state media said.
Analysts said investor confidence was boosted last week by speculation that the government would introduce more measures to promote economic growth, after the announcement on November 9 of a package that included 4 trillion yuan (586 billion dollars) for infrastructure projects over the next two years.
