Lenders boost shares
Print Edition
SHANGHAI stocks rose nearly 2 percent yesterday as banks were cheered by the prospects of trading shares in future.
The Shanghai Composite Index gained 1.89 percent to 3,302.41 points.
The China Securities Regulatory Commission is studying allowing banks to operate securities trading business, according to Zhang Xiaojun, a CSRC spokesperson.
Investors were hopeful of a quick decision as some banks are already running securities-related business via their brokerage units.
The Bank of Nanjing surged by the daily 10 percent limit to 13.72 yuan (US$2.19), the Bank of Beijing jumped 9.2 percent to 10.80 yuan, the Industrial Bank rose 8.72 percent to 14.71 yuan, and China Citic Bank gained 7.76 percent to close at 7.08 yuan.
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