China's shares surge after weeklong holiday

China's shares surged Friday, led by metals, energy and banking, as trading resumed after a weeklong holiday amid growing optimism about the health of the global economy.

The benchmark Shanghai Composite Index rose 132.29, or 4.8 percent, to 2,911.72. The Shenzhen Composite Index for China's smaller second market added 48, or 5.1 percent, to 997.32.

Investors were encouraged by improved U.S. retail sales data overnight, said Peng Yunliang, a market strategist for Shanghai Securities. That followed a survey released during the holiday showing Chinese manufacturing expanding for a seventh month.

"The recovery of manufacturing industries is better than expected," Peng said. "The latest U.S. consumption figure was good, making investors expect the Chinese export will recover."

Metals led gains. Aluminum Corp. of China, or Chinalco; Jiangxi Copper Ltd. and Jilin Jien Nickel Ltd. all rose by the daily maximum of 10 percent - Chinalco to 14.04 yuan, Jiangxi Copper to 37.59 yuan and Jien Nickel to 30.71 yuan.

PetroChina Ltd., Asia's biggest oil and gas producer and China's biggest-capitalization stock, added 3.7 percent to 13.17 yuan. Rival China Petroleum & Chemical Corp., or Sinopec, rose 4.3 percent to 11.79.

Shenhua Energy Ltd., China's biggest coal producer, climbed 8.4 percent to 32.90 yuan.

Midsize lender Pudong Development Bank Ltd. rose 6.9 percent to 21.00 yuan, while Industrial & Commercial Bank of China Ltd., the country's biggest commercial lender, rose 3.8 percent to 4.95 yuan.

In currency markets, China's yuan rose to 6.8257, up from 6.8270 on the last trading day Sept. 30 before mainland markets closed.

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