China shares end at 1-week high

Banking shares were led by Agricultural Bank of China after it exercised a greenshoe option in its Shanghai initial public offering,making it the world8217;s biggest IPO.

Analysts said the larger-than-expected 76.3 per cent jump in the share price of newly-listed Jihua Group,China8217;s biggest military supply provider,also indicated that investors were more confident about buying back into the market.

8220;The market is quite solid at this point. I see the market will continue to rebound maybe another 150 points to 2,800 points,8221; said Wang Aochao,analyst at UOB Kay Hian in Shanghai. Wang projected this level to be reached in the next two weeks.

Turnover in Shanghai A shares rose to 130 billion yuan 19.14 billion from 91 billion yuan on Friday.

Gaining Shanghai shares overwhelmed losers 886 to 6.