Stocks surge on healthy H1 earnings numbers

The mainland stocks rose the most in more than six weeks as improved earnings by Haitong Securities Co and Shanxi Guoyang New Energy Co added to optimism government stimulus spending is reviving the economy.

The Shanghai Composite Index climbed 64.60, or 2.1 percent, to 3145.16 at the close, the most since June 1 and a 13-month high. The gauge has surged 73 percent this year, the world's best performer among major markets.

"First-half earnings will likely beat market estimates," said Zhao Zifeng, who helps oversee about $10.2 billion at China International Fund Management Co in Shanghai. "The upward trend for stocks will continue."