Equities advanced to a two-week high yesterday, led by financials, following reports that the State Council has given the green light for stock index futures.

The benchmark Shanghai Composite Index rose 1.58 percent to close at 3262.6 points, while the Shenzhen Composite Index rose 1.04 percent to 13644.47 points.

China Business News had earlier reported that the government had approved the launch of stock index futures and the new product would make its capital market debut soon.