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.
Shanghai shares rose yesterday, with the main index setting a fresh seven-week closing high in heavy trade, as the market continued to outperform tumbling foreign markets.
Skandia-BSAM has been one of China's fastest growing insurers in recent years, fueled by the bullish stock market.
China's main stock index rose to a six-week closing high yesterday and turnover expanded to levels last seen near the market's peak, as second-tier industrial shares soared while financials stayed weak.
The government should do more to lure initial public offerings (IPOs) from other international markets, according to a recent business sentiment survey.
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