Shanghai B shares take off

IT was a solid day yesterday for Shanghai B shares and A issues in Shenzhen, as both came up with strong gains.

Share prices on the Shanghai B market soared 6.34 per cent on turnover of US$2.14 million.

The Credit Lyonnais Securities (Asia) Shanghai B index climbed more than 43 points or 6.34 per cent, to finish at 729.1.

Analysts said investors were coming back into the market on the belief that the shares had bottomed out.

The Shanghai A market rallied after Tuesday's fall, with the index closing 146.5 points or 2.76 per cent higher to 5,464.

In Shenzhen, the A market continued to edge up, with the index closing 114.5 or 5.58 per cent higher at 2,164.4 on heavy turnover.