April 5, 2012 / 7:09 AM / 6 years ago

China shares up 1.7 pct, biggest one-day rise in 2 mths

SHANGHAI, April 5 (Reuters) - China shares jumped 1.7 percent the biggest single-day rise since early February, on Thursday, bolstered by non-banking financials after Premier Wen Jiabao said the monopoly formed by the country’s big banks needs to be broken to get money flowing to cash-starved private firms.

Shares also benefited from increased optimism with investors taking well to news of potential fresh inflows, after Beijing said on Tuesday it will raise the total quota for its qualified foreign institutional investor program (QFII).

The Shanghai Composite Index ended at 2,302.2 points, breaking through the key psychological level of 2,300 points. It rose 0.5 percent on Friday, the last trading day before the Tomb-sweeping day holiday. (Reporting by Chen Yixin and Kazunori Takada)

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