Share prices on China's Shanghai and Shenzhen bourses extended rises amid expanding turnover on Wednesday with some of the major indices hitting fresh highs in this round of market rebounds.
Small-cap stocks, especially those listed on the ChiNext board, or China's Nasdaq-like stock market, continued strong momentum and led the day's rally, while the heavyweights underperformed. For the whole day, the benchmark Shanghai Composite Index added 0.88 percent to end at 3,647.93 points.
The Shenzhen Composite Index jumped 1.89 percent to end at a three-month high of 2,343.62 points. The index for small firms went up 1.63 percent to end at a four-month high of 8,754.11 and the ChiNext Index surged 2.89 percent to end at 2,816.05, a record high in over three months.
Combined turnover of the two bourses expanded to 1.02 trillion yuan from 858.6 billion yuan on the previous trading day.
Over 80 percent of the listed stocks closed in the positive territory on Wednesday, with the top gainers in medical care, software, telecom operation, computer, internet, machinery, media and machinery sectors.
On the stock index futures market, the IF December contract went up 1.56 percent to end at 3,695.0, keeping a discount of 86.61 points to the underlying Hushen 300 Index, which edged up 0.74 percent to end at 3,781.61.
The SSE 50 December contract rose 1.26 percent to end at 2,430.0, keeping a discount of 29.56 points to the underlying SSE 50 Index, which edged up 0.48 percent to close at 2,459.56.
The CSI November contract added 2.41 percent to end at 7,631.0, keeping a discount of 291.38 points to the underlying CSI 500 stock index, which went up 1.59 percent to end at 7,922.38.
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