Chinese shares rebound on Wednesday after days of slump

Chinese stocks closed higher on Wednesday, with the benchmark Shanghai Composite Index up 2.49 percent, at 2,958.28 points.

The Shenzhen Component Index closed 4.37 percent higher at 10,652.9 points.

The combined turnover of stocks covered by the two indices stood at 917.7 billion yuan (about $139.9 billion), up from 838.8 billion yuan the previous trading day.

Shares related to semiconductor and salt lake-based lithium led the gains, and those related to textile and real estate led the losses.

The ChiNext Index, tracking China's Nasdaq-style board of growth enterprises, surged 5.52 percent to close at 2,269.17 points.

Chinese major stock indices dropped by over 5 percent on Monday and further slipped on Tuesday when the benchmark Shanghai Composite Index closed at 2,886.43 points, the lowest point since June 2020.

China's central bank on Tuesday said investor expectations and sentiments resulted in the recent fluctuation in the financial market.

The bank said it will increase support for the real economy with a prudent monetary policy after the General Office of the State Council called for the same move a day earlier.

(With input from Xinhua)

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