No end in sight to market's bull run

Stocks surged on Friday to their highest level in seven years, boosted by market expectations of further supportive government policies to shore up the economy.

The Shanghai Composite Index rose for an eighth consecutive trading day, ending up 1 percent at 3,617.32 points.

The index, which has risen 12 percent this year, remained firmly above the key psychological level of 3,600 points. Analysts believe investors tend to start thinking about profit-taking at that level.