Editorial Summary

The Shanghai Composite Index increased 4.15 percent to close at 3,278.33 on April 23, while the Shenzhen Composite Index rose 4.86 percent to close at 960.21. Trading volume on the Shanghai and Shenzhen Stock Exchanges reached RMB 86.114 billion and RMB 33.866 billion, respectively.

After market close on Wednesday, the Ministry of Finance announced that it will reduce the stamp tax from 0.3 percent to 0.1 percent on Thursday, reports 163.com quoting the CCTV evening news.

NYSE Euronext CEO Duncan Niederauer said during a China visit on April 22 that he hopes NYSE will become the first overseas exchange company to list on the A-shares market, reports Oriental Morning Post.

Share of China Petroleum & Chemical Corporation (Sinopec Corp) (600028.SH; 0386.HK; NYSE: SNP) increased 6.46 percent on Wednesday. Sinopec Corporation’s parent company Sinopec Group announced on Wednesday that its subsidiary Yangzi Petrochemical has added an estimated 100,000 tons annually of butadiene production (currently on a trial production basis) on April 16. With the extra capacity, Yangzi’s butadiene production capacity will reach 206,000 tons annually, making the company the second largest butadiene producer in China.