China stocks rise 0.9 pct, 3-½ month closing high
SHANGHAI, Nov 23 (Reuters) - China's key stock index rose 0.92 percent on Monday to a fresh three-and-a-half-month closing high, with auto shares rising after bullish comments on the industry's outlook from the Guangzhou Autoshow.
The Shanghai Composite Index ended at 3,338.663 points, more than doubling from a two-year low hit in October of last year.
Gaining Shanghai A shares outnumbered losers by 738 to 152 while turnover picked up to 203 billion yuan ($29.73 billion) from Friday's 200 billion yuan.
While market sentiment remained upbeat with a strong outlook for the economy, profit-taking pressure was rising, analysts said.
The 14-day Relative Strength Index has risen to 74, above the overbought mark of 70.
Auto shares outperformed, with Dongfeng Automobile jumping its 10 percent daily limit to 7.03 yuan.
($1=6.827 Yuan)
(Reporting by Claire Zhang and Edmund Klamann)
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