Stocks in Asia Pacific were higher during Monday’s trading session, with shares in mainland China leading regional gains.
The Shanghai composite soared 5.71% to close at around 3,332.88 while the Shenzhen component rose 4.089% to finish its trading day at about 12,941.72.
Jackson Wong, asset management director at Amber Hill Capital, told CNBC in an email that “bull sentiment” in mainland Chinese shares was “driving the markets.”
Wong said the “sudden surge” in trading volume, as well as a break out for the Shanghai composite last week, raised investor expectations that “another bull run is coming.”
BOCOM International’s Hao Hong told CNBC that the Shanghai composite has “broken through” its 850-day long-term moving average.