Index hits all-time record

SHANGHAI: Continuing its strong performance over the past week, the benchmark stock indicator yesterday rose to an historic high, regaining all the ground lost since share prices fell sharply on May 30 following a hike in the tax levied on stock transactions.

The Shanghai Composite Index climbed 22.49 points, or 0.52 percent, to close at 4,346.46, up from the previous high of 4,334.92 on May 29. Turnover on the Shanghai bourse totaled 132.8 billion yuan, with 721 out of 902 stocks closing higher.

The number of new A-share accounts opened was 110,641, up from the daily average of 62,743 a week ago.