SSE confirms problem in Everbright Securities

BEIJING -- The Shanghai Stock Exchange (SSE) said Friday afternoon that the department of investment strategy of the Everbright Securities Company Ltd encountered a problem in its arbitrage system when it is operating its own funds during the morning trade at the bourse.

The statement, posted on SSE's account on the twitter-like microblogging service platform Weibo.com, was issued after a surprising surge in this morning session led by financial sector and oil giants.

The benchmark Shanghai Composite Index climbed 3.19 percent to end the morning trade at 2,148.39 points.

Timeline

Chinese stocks surge in morning trade
Chinese shares close lower Friday
Everbright Securities: "system error" occurred