China A-shares Surged on Awaiting Stock Index Futures Launch

China A-shares gained sharply higher Friday with heavyweights amid speculation that China will soon launch stock index futures, dealers said.

The benchmark Shanghai Composite Index ended the morning up 87.67 points or
2.57 pct at 3,499.17, recovering from a loss of 5.42 pct yesterday.

The Shanghai A-share Index rose 92.34 points to 3,671.26, while the Shenzhen
A-share Index was up 1.46 points at 1,163.13.

The FTSE/Xinhua China A 50 Index was up 409.16 points at 13,768.05 and the
FTSE/Xinhua China A 200 Index rose 211.37 points to 10,652.84.

PetroChina, the biggest index component, gained 3.59 pct to 17.60 yuan, after falling yesterday to 16.70 yuan, the price at which its A-shares were offered to investors last year.