China stocks close more than 2% higher at midday
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China's stocks surged by 2.44 percent in the morning session Monday, led by resource companies and securities firms.
The benchmark Shanghai Composite Index gained 2.44 percent to finish the morning session at 2,805.61 points after reaching the psychologically significant 2,800-point level.
The Shenzhen Component Index opened 1.06 percent higher at 12,037.99 before rising 2.44 percent to end the morning break at 12,202.14.
Shanxi Guoyang New Energy Co. Ltd. and Anhui Quanchai Engine Co. Ltd. both rose by the daily limit of 10 percent. Zijin Mining Group, China's largest gold producer, surged by 8.625 percent to end at 8.69 yuan (1.3 U.S. dollars) per share.
Analysts attributed the rise of resources shares to the weakened U.S. dollar, strong domestic demand and the inflation expectation.
Guangfa Securities rose 9.99 percnet to 37.33 yuan. Hongyuan Securities surged 8.95 percent to 18.74 yuan.
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