Shanghai's key stock market rose for a third day today thanks to a rally among raw-materials shares over higher copper and gold prices.

The Shanghai Composite Index, which tracks yuan-denominated A shares and hard-currency B shares, gained 1.84 percent, or 67.90 points, to 3,761.01 at 3pm.

Gainers in the Shanghai market outnumbered losers 760 to 37, while six were unchanged.

The Shenzhen Composite Index, which tracks the smaller domestic stock exchange, was up 2.94 percent, or 32.24 points, to 1,130.

Zhongjin Gold Corp surged by the 10 percent daily limit, while Yunnan Copper Industry Co paced gains among copper producers after prices of the metals climbed.

The market rose after concerns eased that new equity offers and trading of previously locked-up shares will create a glut.

About 40 companies are applying for regulatory approval to sell additional shares, the fewest on record, Shanghai Securities News reported, citing an unidentified official at the China Securities Regulatory Commission.

Zhongjin Gold, China's third-largest producer of the precious metal, gained 5.96 yuan to 65.54 yuan (US$9.36). Shandong Gold, the second-biggest bullion producer, rose 11.90 yuan to 130.90 yuan. Both stocks climbed the 10 percent daily limit. Gold climbed as much as 0.8 percent to US$863.23 an ounce in Singapore.

Yunnan Copper, China's third-largest smelter of the metal, gained 4.66 percent to 29.20 yuan. Jiangxi Copper Co, the country's No. 2, added 4.76 percent to 35.84 yuan.

Western Mining Co, China's second-largest producer of lead concentrate, gained 7.28 percent to 26.23 yuan. The company agreed to buy a 10 percent stake in Australian minerals explorer FerrAus Ltd, Adelaide-based FerrAus said in a statement to the Australian Stock Exchange.

Airlines also gained as falling jet-fuel prices spurred optimism about profits.