Chinese shares surge, closing up 4.15 percent

Chinese share prices surged to close 4.15 percent higher Wednesday with investors buying oversold stocks as belief grew that a slump in earlier sessions had gone too far, dealers said.

The benchmark Shanghai Composite Index, which covers A and B shares, closed up 130.54 points at 3,278.33 on turnover of 86.1 billion yuan (12.3 billion dollars).

The Shanghai A-share Index was up 136.75 points or 4.14 percent to 3,439.85 on turnover of 85.7 billion yuan. The Shenzhen A-share Index advanced 46.90 points or 4.89 percent to 1,006.50 on turnover of 33.6 billion yuan.

(Agencies)