Leo Zhang/Shanghai Daily news

Shanghai stocks rose yesterday after China's top brokerage expects the country's stock-market value to jump at least 30 percent next year on an economic boom and on a strengthened yuan.
The Shanghai Composite Index, which covers both yuan-denominated A shares and hard-currency B shares, gained 0.67 percent to 1,125.39.
The A-share index added 0.67 percent to 1,183.39 and the B-share index grew 0.89 percent to 60.26.
"China's securities markets are expected to rebound next year after a five-year drop," said Wu Zhiguo, a Guohai Securities Co analyst. "But the broker's (China Galaxy) projection is a bit over-optimistic and I expect a nearly 10 percent rise for key stock indexes."
China Galaxy Securities Co, the nation's biggest broker by assets, said its estimate was based on the nation's economic growth, the yuan's appreciation and low price-to-earnings ratios at domestically listed companies.
China's economy grew 9.4 percent for the first three quarters and in July the government allowed the yuan to appreciate 2.1 percent against the US dollar. China's stock markets feature an average PE ratio of 14, compared with 20 times on mature Western bourses, Galaxy said.
China Galaxy expects qualified overseas investors to step up efforts to apply for quotas and invest in local-currency stocks and bonds next year.
The broker recommends bellwether stocks in such sectors as consumer products and manufacturing.