China's stocks rose for the third day on Friday, driving the benchmark index to a 10-month high as financial shares gained after the securities regulator approved the nation's first initial public offering (IPO) since September.

The benchmark Shanghai Composite Index gained 26.59 points, or 0.93 percent, to close at 2,880.49. The Shenzhen Component Index closed at 11,242.29 points, up 90.66 points, or 0.81 percent.

Total turnover climbed to 232.58 billion yuan (US$34.02 billion) from 225.08 billion yuan in the previous trading day.

(Xinhua News Agency June 19, 2009)