SHARES in Shanghai at noon gained as investors were encouraged by a long-anticipated European debt deal.

The Shanghai Composite Index finished up 1.10 percent at 2462.38 points by the midday break. Stocks in the media and entertainment, coal, property, gold, nonferrous metals and insurance sectors led the gains.

Vanfund Real Estate jumped by 10.06 percent and Vantone Real Estate rose by 9.8 percent.

The People's Bank of China, China's central bank, set the yuan's central parity rate against the US dollar at 6.3290 today, the highest level since the yuan's revaluation reforms began in 2005.

Shanghai copper futures climbed 6 percent, its daily limit, to 61,010 yuan a ton.

Source:shanghaidaily