China shares surge over stimulus plans

BEIJING -- China stocks on Friday posted the biggest single-day rallies in almost eight months and recovered last month's losses in just one day after the country's top economic planner unveiled stimulus plans worth more than 1 trillion yuan to buoy the slowing economy.

The benchmark Shanghai Composite Index jumped 75.84 points, or 3.7 percent, to close at 2,127.76.

The Shenzhen Component Index surged 420.8 points, or 5.08 percent, to close at 8,709.07.

The National Development and Reform Commission, China's top economic planner, approved over the past two days 55 investment projects worth 1 trillion yuan ($157.7 billion) to build highways, ports and railways across the country.