Index rises on better-than-expected data

The mainland stock market rose sharply yesterday, led by financial shares, after economic data released on Tuesday raised hopes that economic growth might pick up more quickly than many had expected.

The Shanghai Composite Index closed up 3.52 percent at 1928.869 points, within one point of its intra-day high. It was the index's biggest rise in nearly five weeks.

Turnover in Shanghai A shares was initially light but picked up as the index rose, totalling 64.0 billion yuan for the day, up from 49.1 billion yuan on Tuesday.