Fu Chenghao/Shanghai Daily news

Shanghai stocks rose yesterday as investors continued to buy US dollar-denominated B shares, betting their value will be boosted after an exchange executive said it may merge B chips with their A-share peers.
The shanghai Composite Index, which tracks yuan-denominated A shares and hard-currency B shares, advanced 1.48 percent to 1,251.58. The A-share Index grew 1.38 percent to 1,312.39.
The b-share Index soared 9.26 percent to 84.81 after surging 9.13 percent on Wednesday, marking an almost 14-month high.
"People just speculated that they may receive a premium from companies which may buy back B shares or just swap them for A shares," said Huaxia Securities analyst Lin Xuenong. "The frenzy is going to continue."
More than 30 of the 54 B-share listings on the Shanghai exchange rallied to their 10 percent daily trading cap yesterday.
Zhou qinye, vice president of Shanghai Stock Exchange, was earlier quoted as saying that the bourse may allow some firms to convert B shares to A chips on a trial basis this year. But no timetable was given.
Heavyweight china Petroleum & Chemical Corp, the top Asian refiner, finished at its 18-month high at 5.08 yuan (63 US cents), a 5.18 percent jump.