Zhang Liuhao/Shanghai Daily news

Shares in Shanghai rose slightly yesterday after a media report said five brokerages had received a combined 10-billion-yuan (US$1.2 billion) loan to buy stocks, fueling optimism of a capital influx.
The Shanghai Composite Index, which groups both yuan-denominated A shares and hard-currency B shares, edged up 0.29 percent to 1,040.42. The A-share Index added 0.32 percent to 1,093.26, while the B-share Index tumbled 1.86 percent to close at 59.43.
"The bullish expectation over a funds inflow will help stabilize the stock markets at a time when shareholders of companies involved in the second stage of the trial share structure reform are about to start voting on their compensation proposals," said Dai Ming, an analyst with Fortune Securities Brokerage Co Ltd.
The central bank recently provided low-interest loans totalling 10 billion yuan to five securities firms, the Beijing News, citing an unidentified source, reported.
The funds can only be used to buy stocks as part of the government's efforts to bolster the share market, the newspaper said.
"It will be good for the equity sector. The good-quality brokerages will be encouraged while poor ones will be phased out," Dai added.
He also said the recent market-boosting measures are likely to ease investors' concerns over money supply.