Leo Zhang/Shanghai Daily news

Shanghai stocks edged up yesterday as China's top securities regulator said there is no time frame to resume new share sales, cooling concerns of any immediate pressure on capital supply.
The Shanghai Composite Index, which groups both yuan-denominated A shares and hard-currency B shares, inched up 0.13 percent to 1,117.85. The A-share index added 0.14 percent at 1,175.49 while the B-share index withdrew 0.67 percent to 59.73.
"The regulator's remark stopped speculation the country may rev up efforts to resume initial public offerings," said Liu Yu, an Orient Securities Co analyst. "But the market may still be in a correction pattern towards the end of the year."
No timetable has been drawn up to resume IPOs, said Shang Fulin, head of the China Securities Regulatory Commission, at a forum on Monday.
New stock sales were stopped in May as the government moved to dispose of as much as US$220 billion of mostly state ownership in more than 1,300 publicly traded companies.
Shanghai Pharmaceutical Co, the listed unit of China's biggest drug maker, jumped 3.63 percent to 4.00 yuan (50 US cents). The company's parent was given a sub license by Swiss drug giant Roche to make a generic form of Tamiflu, an antiviral drug used to treat bird flu in human cases.
China Petroleum & Chemical Corp, Asia's biggest refiner, added 1.14 percent to 4.40 yuan. Jiangxi Copper Co, a metal maker, gained 0.20 percent to 4.97 yuan.