Leo zhang/Shanghai Daily news

Shanghai equities rose to almost four-month highs yesterday, powered by drug makers and chemical firms after the state-asset regulator said both industries earned handsome profit in the first 11 months of last year.
The Shanghai Composite Index, which covers yuan-denominated Class A shares and hard-currency Class B stocks, added 0.52 percent to 1,215.67, the fourth day of rises and the highest since September 20 when it hit 1,223.57.
The a-share index gained 0.48 percent to 1,277.39 while the B-share index added 3.91 percent to 69.58.
"Investors piled into these stocks as companies in their sectors logged strong financial figures despite higher raw-material costs," said Li Zhi, a Hualin Securities Co analyst. "The current uptrend bodes well for the  prospect of China's stock bourses for the year."
Profit at 50 of China's state-owned chemical companies climbed 38.5 percent on-year to 7.27 billion yuan (US$900 million) between January and November, the State-owned Assets Supervision and Administration Commission said yesterday on its Website.
Their revenue advanced 29.3 percent to 172.5 billion yuan during the time, the commission said.
Zhuzhou times New Materials Technology Co, a Hunan rubber maker, stretched 6.46 percent to 5.11 yuan. Bluestar New Chemical Material Co soared 5.72 percent to 14.79 yuan while Qilu Chemical Co edged up 0.58 percent to 8.64 yuan.