Shanghai Daily: Business - shanghaidaily.com
SHARES in Shanghai jumped more than four percent with a dramatically increased volume to regain the 5,000 line, fueled by the blue chips which surged more than five percent yesterday. The surge, the biggest in the past 11 trading days, came from the news of the reform corporate income tax policy and the strong US and Hong Kong markets, dealers said. The Shanghai Composite Index, which tracks both yuan-denominated A shares and hard-currency B shares, jumped 4.16 percent to 5,003.33. Gainers outnumbered losers 713 to 43 yesterday while 72 were unchanged. Turnover was 82.71 billion yuan (US$11.19 billion), a 55-percent increase from the previous session. The Shenzhen Composite Index, which covers the smaller stock market on China's mainland, climbed 3.06 percent to 1,257.27. "Passing the important marks, including the half year average mark and the 5,000 mark, and the increased volume show the market is returning to a healthier environment," said Qin Hong, an