The rapid rise in Chinese markets continued overnight. The Hong Kong Hang Seng rose 1.9% and stocks in large companies moved up sharply. Shares in China Petroleum (NYSE: SNP) advanced over 10%. China Mobile’s (CHL) shares moved up 5.3%

The Shanghai Composite rose 2.1% to top 6,000 for the first time.

Douglas A. McIntyre is a partner at 24/7 Wall St.

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