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1st LD-Writethru: Chinese shares close higher Wednesday

Xinhua, December 7, 2016 Adjust font size:

Chinese stocks closed higher Wednesday, with the benchmark Shanghai Composite Index up 0.71 percent at 3,222.24 points.

On the third day of the Shenzhen-Hong Kong stock link, the smaller Shenzhen index closed 0.70 percent higher at 10,855.72 points.

Turnover on the two exchanges rose to 437.6 billion yuan (63.6 billion U.S. dollars), up from 420 billion yuan the previous day.

As major indices came off previous lows, stocks on the nation's two exchanges rallied with more than 50 shares rising by the daily limit of 10 percent.

Shares in retail, steel, coal and non-ferrous metal companies were the biggest winners, while banks lost ground.

Analysts said that the rally was boosted by the nation's supply-side structural reform and stronger demand in the market.

The ChiNext Index, which tracks China's NASDAQ-style enterprises, gained 0.60 percent to close at 2,134.99 points. Endi