China's stocks staged a rally on Wednesday as trade data suggested a stabilization in China's economy. The benchmark Shanghai Composite Index closed 1.42 percent higher at 3,066.64 points.
The smaller Shenzhen index closed 1.44 percent higher at 10,684.92 points. The ChiNext Index, which tracks China's NASDAQ-style board of growth enterprises, gained 1.33 percent to close at 2,294.01 points. Total turnover on the two bourses stood at 823.6 billion yuan (126 billion U.S. dollars), up from 582.4 billion yuan the previous trading day.
The securities, energy and raw material sectors led the gains. More than 2,000 stocks on the two bourses gained and fewer than 350 stocks lost. China's exports in yuan-denominated terms surged 18.7 percent year on year in March, the first increase since December, compared with a slump of 20.6 percent in February and a 6.6-percent fall in January, according to figures from the General Administration of Customs released on Wednesday.
Imports dipped 1.7 percent, an improvement from February's 8-percent drop. Wednesday's trade data came among a string of figures suggesting a stabilization in China's economy, including official PMI and power use.
The economy has had "a good start" to 2016, a spokesperson for the National Development and Reform Commission said on Wednesday, citing investment growth, steady prices, rising business profits, a warming property market and higher fiscal revenue.
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