SHANGHAI, Aug. 23 -- SHANGHAI shares rose today with the benchmark index conquered the 5,000 mark for the first time as large-cap financial and property companies advanced on bullish market prospects.

The Shanghai Composite Index, which covers yuan-denominated A shares and US dollar B stocks, was up 1.05 percent to close at 5,032.49 after climbing as high as 5,050.38 earlier in the day.

Total turnover on the Shanghai stock market hit 154.9 billion yuan (US$20.5 billion) for morning trading. Gainers outnumbered losers by 511 to 299.

Citic Securities Co, China's largest listed broker, jumped 5.91 percent to 94.95 yuan after saying it would issue up to 350 million shares to raise as much as 25 billion yuan for acquisitions and business expansion.

Haitong Securities Co, the second largest public brokerage house, gained 0.78 percent to 53.93 yuan. Industrial & Commercial Bank of China, the nation's top lender, edge up 0.43 percent to 6.95 yuan, before it reports first-half financial results later in the day.

Real estate issues also rose on the sustained growth of the Chinese yuan. Poly Real Estate Group Co, China's largest state-held listed developer, soared 7.67 percent to 83.20 yuan. Shanghai Shimao Co, a local developer owned by tycoon Xu Rongmao, added 3.31 percent to 31.87 yuan.

Qingdao Haier Co, one of China's leading home-appliance producers, jumped by 9.07 percent to 22.90 yuan after saying its unaudited net profit jumped 36.9 percent year on year to 363.8 million yuan in the first half.

China Yangtze Power Co, operator of the world's biggest hydropower project, drifted up 0.83 percent to 19.37 yuan after the firm said it would float up to eight billion yuan in corporate bonds to repay debt.

Bucking the upward trend, China Citic Bank Co eased 1.32 percent to 11.20 yuan although the lender said its first-half net profit surged 86.7 percent from a year before to 3.21 billion yuan on credit growth.