Bank views aid stocks

Shanghai's market jumped nearly 2 percent yesterday on less concern of tightening liquidity after a survey showed most bankers project current monetary policy to remain in the next quarter. 

The Shanghai Composite Index added 1.93 percent, or 57.64 points, to close at 3,050.48. Turnover was 105 billion yuan (US$15.4 billion).

"The rebound may not last very long with investors' outlook still uncertain over economic situations," GF Securities wrote in a research note.

A survey by the central bank and the National Bureau of Statistics showed 51.7 percent of bankers estimate that monetary policy will remain unchanged in the next quarter. A total of 60.5 percent of the bankers surveyed thought current monetary policy was at a reasonable level. The survey sample covered around 2,900 banking institutions.

The Industrial and Commercial Bank of China  added 1.24 percent to 4.88 yuan.