China Stocks Poised to Extend Rally as Shanghai Composite Holds Above 2,990

China's stock market is likely to see further support on Tuesday after the Shanghai Composite Index rose 27.33 points, or 0.92 percent, to close at 2,994.73 on Monday, following gains in financial and property shares. The index has gained almost 50 points, or 1.7 percent, over two straight sessions, trading between 2,961.86 and 2,996.41 on Monday. Property stocks led the advance, with Gemdale jumping 7.06 percent, Poly Developments adding 6.28 percent and China Vanke up 5.19 percent. China Construction Bank rose 2.30 percent, Aluminum Corp of China gained 3.67 percent and Industrial and Commercial Bank of China added 2.11 percent. The cautious optimism tracks a mildly higher Wall Street close, with the Dow up 0.13 percent to 39,169.52 and the NASDAQ gaining 0.83 percent to 17,879.30, as traders await Friday's U.S. monthly jobs report and Fed Chair Jerome Powell's remarks on Tuesday.