Chinese shares surge after lacklustre opening


Chinese shares surged at the close Wednesday after an uncertain opening, continuing months of volatility on the mainland’s biggest exchange.

The benchmark Shanghai Composite Index rallied in late afternoon trading Wednesday, closing up 4.89 per cent.

After falling in the previous three sessions, and opening lower on Wednesday, the exchange ended the day at 3,152.26.

The smaller Shenzhen Component Index also surged, closing up 6.45 per cent, and the ChiNext Index, which tracks tech and other growth companies, climbed 7.16 per cent.

A series of official measures aimed at stabilizing prices and reassuring investors about the strength of the Chinese economy have failed to stop high volatility in the Chinese financial markets.