Leo Zhang/Shanghai Daily news

Shanghai stocks edged up after China's securities watchdog unveiled rules to extend its state-share disposal program to all listed companies, fanning optimism investors may get more compensation.
The Shanghai Composite Index, which covers yuan-denominated A shares and foreign-currency B shares, crept up 0.62 percent to 1,196.22. The A-share Index added 0.62 percent to 1,257.00 and the B-share Index leapt 1.03 percent to 68.38.
"Investors may build up positions on those (firms) mulling proposals to sell down government holdings," said Liu Yu, an Orient Securities Co analyst. "They are awaiting bonus shares or cash distributed by companies involved as compensation for losses due to an increasing equity supply."
The two domestic stock exchanges should oversee the non-tradable share revamp at 1,300-plus listed firms, according to rules published by the securities regulator late on Sunday.
Public companies must apply to have their stocks suspended after unveiling plans to compensate minority shareholders, the rules said.
Major shareholders are allowed to negotiate with public investors to improve their offers during the period of suspension.
Sinopec Shanghai Petrochemical Co, China's largest maker of ethylene, grew 0.53 percent to 3.76 yuan.
China Southern Airlines Co, the nation's biggest carrier by fleet size, jumped 4.01 percent to close at 2.85 yuan (35 US cents).