At closing bell, the benchmark Shanghai Composite Index rose 0.37%, or 12.27 points, to 3,333.16. The Shenzhen Composite Index, which tracks stocks on China's second exchange, added 0.84%, or 18.73 points, to 2,251.43. The blue-chip CSI300 index gained 0.5%, or 23.40 points, to 4,714.45.
Market sentiments bolstered on hopes that China's stock market to step into a new stage as China revamped its Shanghai share index on Wednesday for the first time in 30 years, adding STAR Market-listed tech companies, kicking out high-risk companies and delaying inclusion of newly-listed stocks. An index tracking the STAR Board will be published after market close.
Investors are worried that the China and US relationship may get worse after news came after market hour that the US ordered China's consulate in the city of Houston to close within 72 hours. In quickly moving news, the Chinese Foreign Ministry said the United States had demanded Beijing close its consulate in the Texas city, calling the move unprecedented escalation and threatening retaliation. It was the latest instance of friction between the world's two largest economies on everything from trade to the South China Sea and Beijing's tightening grip over Hong Kong.
The U.S. Commerce Department added to an economic blacklist on Monday 11 Chinese companies it said were implicated in human rights violations regarding China's treatment of Uighurs in the western Xinjiang region.
CURRENCY NEWS: The yuan firmed up against the dollar on Wednesday. Prior to the open, the People's Bank of China (PBOC) set the midpoint rate for the yuan's daily trading band CNY=PBOC at 6.9718 per dollar, stronger by 0.21% from 6.9862 set prior day. Spot yuan CNY=CFXS opened at 6.9722 per dollar and strengthened to a peak of 6.9649 per dollar, its firmest level since March 11, before dollar buying pared its gains. Around late afternoon, the currency was changing hands at 6.9713 per dollar, 0.13% firmer than the previous late session close.
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