China’s stocks rose, with the benchmark index entering a bull market, as the economy showed signs of stabilization and the rollout of property curbs boosted the lure of equities.

The Shanghai Composite Index climbed 0.8 percent to close at 3,196.04, taking its advance from its Jan. 28 low to more than 20 percent. Metal producers including Jiangxi Copper Co. and Aluminum Corp. of China Ltd. were among the biggest gainers on Friday. The Hang Seng China Enterprises Index slipped 1.2 percent.

Gains this quarter have been led by commodity producers and construction companies as the government boosts spending to bolster growth and the price of everything from coal to copper surges. The benchmark gauge has rallied more than 6 percent since the end of September as cities including Shanghai unveiled curbs to cool the housing market, while margin debt is also rising.

“Liquidity is abundant and property curbs will prompt more money to flow into stocks, which look undervalued relative to homes in large cities,” said Li Jingyuan, general manager at Shanghai Bingsheng Asset Management. The benchmark gauge “may go as high as 3,900,” Li said.

The Shanghai Composite has climbed for the past five weeks in a row, the best run of gains since May 2015. China Communications Construction Co., China State Construction Engineering Corp. and Jiangxi Copper have been among the biggest performers, surging more than 30 percent since the end of September.

While stocks have been rising, the yuan has tumbled to a six-year low and the 10-year yield on sovereign debt climbed to the highest level since July. Moves accelerated this week as Donald Trump’s unexpected victory boosted the dollar amid speculation his policies will be inflationary, prompting the Federal Reserve to be more aggressive in raising interest rates.

In China, policy makers have increased fiscal stimulus as tepid global demand and slowing private investment weigh on the economy, with growth on track to meet the leadership’s target of at least 6.5 percent this year.

The world’s second-largest stock market still bears the scars of January’s turmoil, when the botched imposition of circuit breakers exacerbated volatility and prompted exchanges to halt trading early. While the Shanghai gauge is back in a bull market, it remains down 9.7 percent this year, while 30-day average turnover is more than 40 percent below the level at the end of 2015.

Investor interest in equities is lackluster compared to last year, when the market capitalization doubled to $10 trillion in less than 12 months before halving again as share prices collapsed. The number of new investors in the week through Nov. 4 was the lowest in almost two weeks, and 78 percent below the peak in 2015. Foreign buyers are also indifferent; inflows and turnover via an exchange link with Hong Kong have waned in recent weeks.

The government took extreme measures to shore up equities last year as the rout deepened, including banning major stockholders from selling shares, curbing short selling and directing state funds to purchase equities. While government-owned funds still influence the market, evidence of heavy intervention has dwindled as late-day rallies become less frequent. The gauge is still down 38 percent from last year’s high.

UTStarcom Holdings Corp. (UTSI) ended last trading session with a change of 2.59 percent. It trades at an average volume of 48.15K shares versus 1.51M shares recorded at the end of last trading session. The share price of $1.98 is at a distance of 24.53 percent from its 52-week low and down -32.19 percent versus its peak. The company has a market cap of $72.19M and currently has 36.46M shares outstanding. The share price is currently -0.58 percent versus its SMA20, -2.05 percent versus its SMA50, and -1.37 percent versus its SMA200. The stock has a weekly performance of 0 percent and is -20.16 percent year-to-date as of the recent close.

Bitauto Holdings Limited (BITA) recently recorded -1.74 percent change and currently at $24.81 is 54.2 percent away from its 52-week low and down -25.18 percent versus its peak. It has a past 5-day performance of -0.8 percent and trades at an average volume of 524.73K shares. The stock has a 1-month performance of -8.69 percent and is -12.27 percent year-to-date as of the recent close. There were about 73.65M shares outstanding which made its market cap $1.83B. The share price is currently -4.53 percent versus its SMA20, -9.22 percent versus its SMA50, and -1.07 percent versus its SMA200.