Shares in Bank of China surged 15 per cent on their first day of trading yesterday as investors defied global stock market jitters to give a thumbs-up to the world's biggest initial public offering for six years.

BoC shares, which listed on the Hong Kong stock exchange, closed up HK$0.45 at HK$3.40, giving the bank a total market value of US$106.7bn, making it the eighth-largest in the world.