Shares soar, Sichuan Expressway sizzles

Chinese stocks rose, sending the Shanghai Composite Index to a new high, with Sichuan Expressway Co tripling its value on debut as the nation's economic rebound continued to spur demand for equities.

The benchmark index added 1.9 percent to 3,435.21, the highest close since June 2008. It reached a low on Nov 4 of 1,706.7. Toll-road operator Sichuan Expressway's 204 percent gain is China's biggest debut rally since March 2008.

Individual investors are rushing to buy stocks as a government stimulus plan and record bank lending revive the world's third-largest economy. Almost half a million stock accounts were opened in the week to July 17, data from the nation's clearing house showed, the most since January 2008.