Shares soar led by automakers, shippers

SHANGHAI: Mainland stocks rose by the most in more than two weeks, led by automakers after the nation's vehicle sales surged the most in at least 10 years, and shipping lines on higher freight rates.

The Shanghai Composite Index rose 61.22, or 1.9 percent, to 3273.97, the most since Dec 24 and erasing an earlier 1 percent loss. The CSI 300 Index gained 1.5 percent to 3534.92.

"China has become the biggest driver for the world's economic recovery now," said Prapas Tonpibulsak, chief investment officer at Ayudhya Fund Management Plc in Bangkok, which manages about $2 billion of assets. "The government's increased spending on infrastructure would help accelerate growth this year."