Chinese shares extend gains

Chinese shares extend gains
Highlights

Chinese equities closed higher on Wednesday as strong banking and securities shares boosted the broader indices at the end of trading.

Chinese equities closed higher on Wednesday as strong banking and securities shares boosted the broader indices at the end of trading.


The benchmark Shanghai Composite rose 2.33 percent to close at 3,536.91 points, and the smaller Shenzhen index advanced 0.87 percent to close at 12,186.27 points, Xinhua reported.

Total turnover on the Shanghai and Shenzhen bourses stood at 838.4 billion yuan (about $131.1 billion), down from 842.8 billion yuan on the previous trading day.

The Shanghai market opened low in the morning, then fluctuated and climbed into positive territory several times during the day before jumping more than two percent in the afternoon session.

More than 40 stocks increased by 10 percent daily limit on Wednesday.

Securities, banking and real estate shares led the growth.

Bank of Beijing surged 10.05 percent to end at 10.18 yuan per share. GF Securities also surged by the daily cap of 10 percent to close at 19.64 yuan per share.

China Vanke Co., the country's largest property developer by market value, jumped by 10 percent daily limit for two straight days.

In contrast, The ChiNext Index, China's NASDAQ-style board of growth enterprises, went down 1.58 percent to close at 2,613.26 points.
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