(Bloomberg) -- A rally in consumer and financial shares helped propel China’s stock benchmark toward its highest level in more than two months, amid signs of rising investor risk appetite and easing inflation concerns.

The CSI 300 Index rose 2.3% by 1:09 pm local time, on track to close at the highest level since March 4. The benchmark, which has been trading sideways in recent weeks, also broke through its 100-day moving average for the first time since March.

Among biggest gainers, Kweichow Moutai Co. jumped 4.8% the day after Chinese media outlets reported that its parent company aimed to double revenue by 2025. A sub-gauge of consumer staples shares rose 3.5%, its most in two months, led by Luzhou Laojiao Co. with a gain of 5.6%.

Tuesday’s breakout higher follows Beijing’s efforts to boost commentary around surging commodity prices and currency gains, and impose more control over financial markets as the 100th anniversary of the Communist Party approaches. Authorities have had some success in slowing metals prices recently, helping ease investor fears about inflation.

“The 100-year anniversary of the CCP is coming soon, so people are optimistic about policy direction,” said Shen Zhengyang, a strategist at Northeast Securities Co. “There are solid reasons to support such optimism. The market now believes the liquidity conditions will be maintained at a relatively ample level until the anniversary.”

Financial stocks were also among the best performers, with a Bloomberg gauge of brokerage shares rising 3.3%. The gains came as Shanghai announced plans to establish itself as an asset management hub. CSC Financial Co. rose by the daily 10% limit.

“Sentiment has stabilized and some heavyweight stocks have corrected from their intra-year highs,” said Linus Yip, chief strategist with First Shanghai Securities. “It’s not surprising that some long-term institutional investors will buy them at current levels.”

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