China's shares jumped to a five-month high on Wednesday as banking counters, including the largest Merchants Bank Co Ltd, rose on data showing stronger-than-expected broad money supply growth in August.
The benchmark Shanghai composite index climbed 0.84 percent to close at 1,217.261 points.
Asia's top oil refiner, Sinopec Corp, gained nearly 1 percent to end at 4.35 yuan.
Banking counters also performed well, bolstered by August money supply figures released on Tuesday, which reinforced analysts' views that the central bank was relaxing more than two years of credit tightening.
Shares of Merchants Bank, the largest domestically listed lender, advanced 1.17 percent to 6.90 yuan. Pudong Development Bank, in which Citigroup owns almost 5 percent, rose nearly 2.5 percent to 8.85 yuan.
CITIC Securities climbed 2.61 percent to 5.11 yuan, bolstered by news that it was making moves to acquire rivals.
The country's ninth largest broker and an arm of top domestic financial conglomerate China International Trust and Investment Corp said it would take over smaller local rival, Goldstone, for $98 million. That followed Tuesday's announcement it would buy troubled larger peer Huaxia Securities.
CITIC's shares have plunged over 13 percent so far this year, underperforming a near 5 percent drop on the main index, hammered by a sluggish market.
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