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The
CSI300 index of the largest listed companies in Shanghai and
Shenzhen rose 0.9 percent, to 3,339.03, while the Shanghai
Composite Index gained 0.9 percent, to 3,185.62 points.
China's volatility index, a gauge of investor fears, has dropped
to 40 percent from an August peak of 64 percent.
But some analysts warn that the rebound could be temporary as
valuations of small stocks are still high, and the Chinese
economy has yet to find its feet.
China's President Xi Jinping told the Wall Street Journal in an
interview that developing capital markets was a key goal of
China's reforms, which will not change just because of current
market volatility.
Most sectors ended the day higher but the CSI300 Infrastructure
Index was down 0.1 percent.
Small caps reversed the losses in morning trade with Shenzhen's
start-up board ChiNext gaining 0.2 percent at the close.
Brokerage shares, including CITIC Securities and Haitong
Securities, jumped as investors bet securities firms would
benefit from a possible market link-up between Shanghai and
London as suggested by UK finance minister George Osborne in
Shanghai on Tuesday.
(Reporting by the Shanghai Newsroom; Editing by Jacqueline Wong)
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