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Shanghai Composite Index Closed Up Over 2%

 People's Bank of China carried out 7-day reverse repo operations in RMB70 billion. Meanwhile, China Securities Regulatory Commission announced the replacement of Chairman during weekend, and some analysts believe the removal of the uncertainty may help restoring investors' confidence. 

Mainland stocks rallied over 1-2% today. At market close, Shanghai Composite Index and Shenzhen Component Index concluded at 2,927 and 10,370, up 2.3% and up over 2%, respectively. The turnover in Shanghai and Shenzhen reached RMB238.6 billion and RMB363.4 billion, respectively. 

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