Stocks surge on strong H1 results

Shares of financial, resources firms soar; SOE reforms boost sentiment

Chinese stocks surged to the highest level in nearly 20 months on Friday, led by gains in shares of financial and resources companies as strong corporate earnings boosted investor confidence.

The benchmark Shanghai Composite Index rallied 1.83 percent to close at 3331.52 points. The blue-chip CSI300 index jumped 1.6 percent to 3,795.75.