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1st LD-Writethru: China stocks rebound slightly on Wednesday

Xinhua, April 29, 2015 Adjust font size:

Chinese shares rebounded slightly on Wednesday thanks to stellar small caps after an unexpected slump on Tuesday.

The benchmark Shanghai Composite Index edged up just 0.01 percent to finish at 4,476.62 points, while the Shenzhen Component Index gained 1.12 percent to close at 14,871.95 points.

Sectors including non-ferrous metals, coal, gold and online education led the rise.

Small caps surged. The ChiNext Index, tracking China's Nasdaq-style board of growth enterprises, surged 4.08 percent to end at 2,797.52 points.

However, many heavyweights that had soared during the past week tumbled.

China Railway Group, a leading railway builder, lost 3.42 percent to close at 21.74 yuan per share, while China COSCO Holding Company, a shipping service giant, dropped 2.75 percent to 15.19 yuan per share.

Chen Wei, an analyst from CITIC Securities, said the market is experiencing substantial fluctuation, increasing risk for short-term investment. Endi