Shanghai key stock index rose 0.38 percent to a two-month closing high in heavy trade yesterday as expectations for high inflation pushed up metals, agriculture and other resource shares.
Olympic-themed marketing initiatives, even for non-sponsors, are getting a comparatively better strike rate, according to a recent report from global market researcher Ipsos.
Shanghai stocks rose nearly 1 percent yesterday, led by gains in banking and metals-related shares after a strong debut by gold futures on the Shanghai Futures Exchange.
The opening of a rural bank by a primarily foreign lender gives hope to the great number of small rural businesses in the country, marking the government's latest drive to provide farmers with easier access to small loans.
Shanghai shares fell for the first time in four days yesterday as most stocks were hit by profit-taking, but banks rose on the back of better-than-expected earnings at Merchants Bank.
After months of planning, China will get its first precious metal futures product when trading in gold futures begins in Shanghai today.
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Raymond Zhou
Op Rana
Berlin Fang
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Chen Weihua
