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Founder Securities, the Chinese partner of Credit Suisse, has set a suggested price target to raise up to 6.42 billion yuan ($996 million) from its planned initial public offering (IPO) in Shanghai, International Financing Review (IFR) reported on Tuesday.
Chinese top hypermarket operator Sun Art Retail Group Ltd jumped 25 percent on its trading debut on Wednesday following a $1.1 billion Hong Kong IPO as investors bid up the shares, betting on strong growth in Chinese mainland's consumer demand.
Stocks advanced on the Chinese mainland, lifting the benchmark index from a one-month low, as airlines climbed on speculation that competition from the high-speed rail industry will fall after a train crash on Saturday.
Hong Kong shares ended higher on Tuesday, led by good performance of financial heavyweights.
China's offshore financial assets rose 7 percent in the year to March to $4.4 trillion, primarily propelled by rising foreign-exchange reserves.
The Shanghai Futures Exchange (SHFE) plans to lower transaction fees for its rebar and copper contracts as well as to cut trading margins for its lead contracts from October onwards, a spokesman said on Tuesday.
Hong Kong stocks closed up 278. 79 points, or 1.25 percent, at 22,572.08 on Tuesday.
The ChiNext Index, tracking China's Nasdaq-style board of growth enterprises, gained 5.48 points, or 0.62 percent, to 892.54 on Tuesday.
China's stock index futures closed higher on Tuesday with the contract for August, the most actively traded, up 0.17 percent from the previous day to 2,983.2 points.
Chinese firms and individuals are reluctant to hold foreign currency amid expectations the yuan will keep strengthening, despite government efforts to discourage such behavior, the State Administration of Foreign Exchange said on Tuesday.
Stocks in China's railway companies suffered a slump Monday after a Saturday train crash, China Securities Journal reported Tuesday.
Chinese shares closed slightly higher Tuesday with the benchmark Shanghai Composite Index up 0.53 percent to close at 2,703.03.
