Fu Chenghao/Shanghai Daily news

China's stocks closed sharply higher yesterday led by aluminum shares and also buying in market heavyweights like Baoshan Iron & Steel Co.
The Shanghai Composite Index, which covers yuan-denominated A shares and foreign-currency B shares, surged 1.98 percent to 1,117.00. The A-share Index climbed 1.98 percent to 1,174.08 while the B-share Index advanced 2.26 percent to 62.21.
The Shenzhen Composite Index, which tracks the country's smaller bourse, jumped 2.45 percent to 271.87.
Three subsidiaries of Aluminum Corp of China gained after media reports said their parent, listed in Hong Kong and New York, is considering to sell yuan-denominated A shares, fanning speculation that it will buy back these units at a premium to streamline their structure.
Both Shandong Aluminium Industry Co and Lanzhou Aluminium Co hit 10 percent their daily trading limit and ended at 9.47 yuan (US$1.17) and 4.32 yuan while Baotou Aluminium Co jumped 5.92 percent to close at 3.56 yuan.
Their parent is China's largest alumina producer.
Baoshan Steel, the country's biggest steelmaker, climbed 2.08 percent to 3.93 yuan while China Southern Airlines Co, the nation's biggest carrier by fleet, soared 5.32 percent to 2.77 yuan.
China Petroleum & Chemical Corp, Asia's top oil refiner, added 0.47 percent to 4.25 yuan.
Meanwhile, the State Administration of Foreign Exchange yesterday approved Singapore's Temasek Holdings Pte and American International Group Inc as qualified foreign institutional investors, allowing them to invest in Chinese stocks and bonds.