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Chinese stocks rebounded on Wednesday from the previous day’s tumble, led by banking, property and small-cap shares as investors remained bullish about the market.
The CSI300 index of the largest listed companies in Shanghai and Shenzhen rose 3.7 per cent, to 3,221.55, while the Shanghai Composite Index gained 2.9 per cent, to 2,940.01 points.
The China CSI300 banking index rose about 4 per cent, reversing the morning session’s fall, after diving 9 per cent on Tuesday. The CSI300 property index jumped 4.5 per cent.
The Nasdaq-style ChiNext Composite Index of mostly high-tech start-ups listed in Shenzhen ended up 3.8 per cent.
Among the most active stocks in Shanghai were Bank of China, up 1.8 per cent to 3.39 yuan; China Shipbuilding, up 10.0 percent to 8.46 yuan and CITIC Securities Co, up 2.9 per cent to 27.30 yuan.
In Shenzhen, BOE Technology, up 3.3 per cent at 3.14 yuan; Changjiang Securities Co, up 5.0 per cent at 14.92 yuan and TCL CORP, up 7.0 per cent at 3.84 yuan were among the most actively traded.
Foreign investment flowing into Shanghai from Hong Kong through the mutual market access pilot programme took up 1.94 billion yuan of the 13 billion yuan daily quota.
Total volume of A shares traded in Shanghai was 51.2 billion shares, while Shenzhen volume was 23.0 billion shares.
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