Chinese shares rose 5.89 percent in the morning session, led by heavyweights, reversing the downward trend in the previous trading days.
The benchmark Shanghai Composite Index rebounded 5.89 percent, or 138.17 points, to 2,482.64. The Shenzhen Component Index closed at 8,460.12 points, up 496.55 points, or 6.24 percent.
Aggregate turnover hit 44.1 billion yuan (6.4 billion U.S. dollars). Gains outnumbered losses by 4,501-1 in the two bourses by11:30 a.m.
Chinese shares opened lower in the morning, amid a overnight declining Wall Street indices. The Shanghai index opened at 2,332.48 points, down 0.51 percent over the previous close. The Shenzhen index dropped 0.57 percent to open at 7,918.57 points.
However, both bourses saw a broad-based rebound at around 10:00a.m., driven up by many sectors including bank, securities, and insurance shares.
China Life Insurance, the country's leading life insurer, rose 8.26 percent to 25.16 yuan, while Ping An Insurance, another life insurance giant, saw its shares gain 8.28 percent to close at 44.45 yuan.
China Merchants Bank posted an increase of 7.13 percent to close at 23.45 yuan. The Shanghai-listed lender reported a first-half net profit of 13.245 billion yuan on Tuesday, up 116.42percent year-on-year.
CITIC Securities, the country's largest listed broker, gained a daily 10 percent limit to close at 18.70 yuan.
Source:Xinhua
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