The benchmark Shanghai Composite Index rose 0.4 percent to close at 1,664.08 points on Sep 5, with robust performance of China Merchants Bank ahead of its Hong Kong IPO (initial public offering) helping push other heavyweight banks' shares higher.

China Merchants Bank's A-share price jumped 3.7 percent to 8.80 yuan, higher than the upper end of the bank's IPO price in Hong Kong. The bank kicked off its international road show in Hong Kong on Monday and its H-shares are due to begin trading in Hong Kong on Sept. 22.

Other banks were buoyed by Merchant Bank's gains, with the China Minsheng Banking rising 3.7 percent to 4.50 yuan, and Shanghai Pudong Development Bank advancing 1.5 percent to 9.89 yuan.

Media and aerospace stocks also found favor, with China Television Media soaring 9.96 percent to 14.9 yuan and Aerospace Communication Holdings growing 6.65 percent to 8.34 yuan.

As China's securities regulators slowed down the approval process of mainland IPOs and Renminbi's appreciation accelerated in recent days, the country's stock market has picked up momentum.

On Monday when the RMB yuan reached another high against the U.S. dollar, the benchmark Shanghai Composite Index jumped 1.3 percent to 1,657.52 points.

Source:佚名