Shares end higher, led by financials

The mainland benchmark stock index rose 0.71 percent to a 10-month closing high yesterday, with financial and airline shares strong after news of possible high-profile acquisitions in those sectors.

The Shanghai Composite Index ended up 19.551 points at 2787.887, rebounding from a 1 percent loss at the midday break. Turnover in Shanghai A shares shrank to 132.9 billion yuan from Monday's 138.7 billion yuan.

Financial shares were strong for a second day after news of a possible tie-up between Ping An Insurance and Shenzhen Development Bank, whose shares remained suspended as the market awaits confirmation of a deal.