After two-day sharp losses, share prices on China's Shanghai and Shenzhen bourses saw biggest intraday gains in the past three weeks with over 1,000 of 2,300-plus traded stocks rising by daily limit-up of ten percent.
For the whole day, the benchmark Shanghai Composite Index jumped 4.89 percent to end at 3,152.26 points. The Shenzhen Composite Index surged 6.52 percent to end at 1,683.36. The SME Index for small firms soared 6.83 percent to end at 6,667.58, and the ChiNext index advanced 7.16 percent to close at 1,926.25.
Combined turnover of the two bourses expanded to 566.78 billion yuan from 477.615 billion yuan on the previous trading day. The majority of the listed stocks closed in the positive territory on Wednesday.
Stocks in internet, public transport, mineral products, software, logistics, media, machinery, medical care, environmental protection, agricultural, automobile, telecom operation, nonferrous metals and pharmaceutical sectors led the gainers.
On the stock index futures market, the IF September contract went up 5.6 percent to end at 3,304.8, keeping a discount of 4.45 points to the underlying Hushen 300 Index, which rose 4.98 percent to close at 3,309.25.
The SSE 50 September contract gained 4.52 percent to end at 2,243.6, reversing to a premium of 1.65 points to the underlying SSE 50 Index, which jumped 3.07 percent to close at 2,241.95.
The CSI September contract soared 6.76 percent to end at 6,050.8, keeping a discount of 34.04 points to the underlying CSI 500 stock index, which rose 6.6 percent to end at 6,084.84. As the September contracts are about to expire on Friday, investors began to move their positions to the October contracts, which also saw sharp gains on Wednesday.
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