SHANGHAI: China shares ended higher on Wednesday, rising the most in more than three weeks, with agriculture and steel stocks leading gains, as demand surges on sustained upbeat economic momentum.
At the close, the Shanghai Composite index was up 0.61% at 3,462.75, its biggest single-day jump since April 19, while the blue-chip CSI300 index was up 0.43%.
Leading the gains, the healthcare sub-index and the agriculture sub-index were both up 1.79%, while the consumer staples sector gained 1.06%.
Gansu Jiu Steel Group Hongxing Iron & Steel Co Ltd were among the largest percentage gainers in the main Shanghai Composite index by rising the daily limit of 10%.
Vehicle sales in China rose 8.6% in April versus the same month a year earlier, their 13th consecutive month of gains, as the world’s biggest car market leads the sector’s recovery from the COVID-19 pandemic.
The real estate index fell 1.53% after Beijing held a meeting about property tax to curb speculation in the housing market.
The smaller Shenzhen index ended up 0.9% and the start-up board ChiNext Composite index was higher by 1.34%.
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