Shanghai races ahead as Beijing holds rates steady

The Shanghai Composite surged 2.9%, its biggest advance since mid-October, as China held interest rates steady despite rising inflation.

The Nikkei 225 rose 0.8% to 10,293.89 and the Hang Seng climbed 0.7% to 23,317.61. Silver, copper, nickel and tin had all gained ground ahead of Beijing's announcement. In London, miners lifted the FTSE by 0.5%, or 29 points to 5,842.03 in early trading. Kazakhmys was 2.4% higher at £15.6; Eurasian Natural Resources was up 2.5% at 989.5p; Xstrata climbed 2.1% to £14.71; and Anglo America was up 1.9% at £30.85. Among the fallers were ARM Holdings, off 1% at 392p, while Shire fell 0.2% to £14.78. Wellstream jumped 5.2% to 785.5p on reports General Electric is poised to seal a £...