Editorial Summary

The Shanghai Composite Index rocketed 9.29 percent to close at 3,583.028, while the Shenzhen Composite Index grew 8.7 percent to 1043.80 on Thursday after the Ministry of Finance reduced the stamp tax from 0.3 percent to 0.1 percent. Trading volume on the Shanghai and Shenzhen Stock Exchanges reached RMB 189.60 billion and RMB73.37 billion, respectively.

Securities topped the day with shares of Citic Securities (600030.SH), Haitong Securities (600837.SH), and Sinolink Securities (600109.SH) marking 10 percent, 10.01 percent and 10.01 percent growth, respectively. Shares of Yunnan Copper (000878.SZ), Jiangxi Copper (600362.SH) and Western Mining Co., Ltd. (601168.SH) came in at a close second with respective increases of 9.98 percent, 10 percent and 9.98 percent.

Zijin Mining Group will issue its initial public offering of 1.05 billion shares on the Shanghai Stock Exchange on Friday. Former Shanda (Nasdaq: SNDA) president Jun Tang's new company Fuzhou-based Newhuadu Industrial Group Co., Ltd has a 13.16 percent stake in Zijin Mining, reports China Business News. The mining company intends to list under the code "601899.SH".