Leo Zhang/Shanghai Daily news

Shanghai shares only managed a very modest rise as uncertainty still prevails over China's state equity disposal scheme and likelihood that institutional investors will cut funds toward the end of the year.
Earlier, the market was cheered by some media reports about the nation's new 5-year economic plan and news of a capital influx from newly-formed mutual funds.
The Shanghai Composite Index, which covers yuan-denominated A shares and foreign-currency B shares, put on 0.40 percent to close the session at 1,161.85. The A-share Index added 0.39 percent to 1,220.81. The B-share Index gained 1.25 percent to 66.78.
"Though China's shareholding overhauls in public companies have been running quite well so far, issues such as whether to compensate holders of Hong Kong-listed H shares remain uncertain," said Wang Chun, an Industrial Securities Co analyst in a report in Shanghai Securities News.
Wang added that institutional investors may siphon some capital out of the markets towards the end of the year as they move to close their books.
Reports about China's new 5-year economic plan from 2006 to 2010 earlier brought cheers to the market.
"The government's proposal indicated good prospects for China's economic growth, easing concerns companies may face sharp profit declines," said Ma Yuzhong, a Guohai Securities Co analyst. "Fund managers are expected to step in as current levels still attract investment value."
China aims to maintain its stable and rapid economic growth through 2010 and per capita gross domestic product is set to double the level in 2000, Xinhua news agency reported yesterday.
Jiangxi Copper Co, China's largest producer of the metal, jumped 1.80 percent to 5.65 yuan (70 US cents). SDIC Zhonglu Fruit Juice Co added 0.39 percent to 5.15 yuan. The company said its third-quarter net income may have grown by 100 percent from a year earlier on higher sales.