Shipping, metal surges boost mainland shares

The mainland stocks advanced, driving the Shanghai Composite Index to a 13-month high, as rating upgrades at Shenyin & Wanguo Securities Co spurred gains by shipping companies and metals producers climbed on higher prices.

"Strong domestic demand for commodities and expectations about a pick up in exports in the second half have prompted investors to believe shipping lines will benefit," said Wang Zheng, a fund manager at Jingxi Investment Management Co in Shanghai.

The Shanghai Composite rose 43.39, or 1.4 percent, to 3188.55 at the close, the highest close since June 2008.