The Shanghai Composite Index yesterday climbed 1.48 percent to 3,495.22, surging for the eighth consecutive day.

Gainers outnumbered losers by 445 to 335. Yesterday's turnover in Shanghai A shares was 156.2 billion yuan.

Banks and insurers, sought by institutions as important components in the futures index, which is expected to be launched in the first half of this year, continued climbing. China Life, the nation's largest life insurer, gained 2.85 percent to 37.48 yuan.

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