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Chinese share prices continue their rise

Zhu Shenshen
Top automobile manufacturers surge after reports that some cities?are mulling new policies to encourage people to buy new cars or support makers.
Zhu Shenshen

Chinese stocks continued to rise on Wednesday with a surge in overseas markets and more Chinese policies on returning to work and encouraging consumption.

The benchmark Shanghai Composite Index increased 2.17 percent to 2,781.59 points. The Shenzhen Component Index was up 3.22 percent to 10,241.08 points.

Trading volume on the two bourses was 751.3 billion yuan (US$107.3 billion), compared with 712.5 billion yuan on Tuesday.

The GEM (China Growth Enterprise Market) index surged 3.25 percent to 1,937.85 points, with gains for chip and software shares. A total of 90 firms on the STAR Market gained with only two closing lower.

Automotive, agriculture, medical and home appliance shares led the market jump.

Top carmakers surged with reports saying cities including Beijing are mulling new policies to encourage people to buy new cars or support manufacturers.

SAIC jumped 8.05 percent to 20.53 yuan while GAC Group gained 5.17 percent to 11.18 yuan. 

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