SHANGHAI B shares rose for the first time in seven days in light trading affected by the Easter holiday in Hong Kong. While mainland investment in B shares has accounted for as much as 40 per cent of daily trading in the past, most investors are now either based in or trade through Hong Kong. '[Yesterday's] trading shows that investors are less interested in the market than before,' said Paul Vibert, Shanghai research head at Baring Securities. The official B index rose 0.58 points to 54.82 on trading valued at US$600,000, down from $4.03 million on Thursday. Almost half of the 34 stocks on offer did not trade. Yaohua Pilkington Glass boosted the index with a 4.4 per cent rise to 90 cents. Traders said an investor who bought Yaohua stock when it was first listed at 72 cents had been selling this week, bringing the price down to its lowest level for more than a year. 'In recent weeks, people have been shifting their portfolios to reflect 1994 earnings,' said Huang Jun, head of sales at Shanghai International Securities. Textiles firm Erfangji, which had shed 10 per cent over the week, recovered 4.9 per cent to 17 cents with 240,000 shares traded. Real estate developer Outer Gaoqiao, which operates a development zone in the Pudong district, put on 5.4 per cent to 54.8 cents with 400,000 shares traded. Pudong, which marks five years as a state-backed economic zone on Tuesday, saw its gross domestic product rise 19.5 per cent to 7.47 billion yuan in the first three months of this year. In the Outer Gaoqiao Free Trade Zone, 172 projects were registered, worth $82.1 million in investment. In March, the zone exported goods worth $14.8 million, up 69.1 per cent on February. The Shanghai A index gained 7.28 points to 640.04.