REUTERS/Kim Kyung-Hoon

REUTERS/Kim Kyung-Hoon

China Stocks Rise to 3-Week High on Stimulus Hopes

Markets Reuters

China stocks rose again on Wednesday to a fresh three-week high, as demand for infrastructure shares helped the market maintain a rebound fueled by economic stimulus hopes, although some analysts warned the relief rally could soon peter out.

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The CSI300 index of the largest listed companies in Shanghai and Shenzhen rose 0.9 percent, to 3,063.32, while the Shanghai Composite Index gained 1.1 percent, to 2,867.34 points.

After a sluggish performance in the morning, the indexes were lifted in afternoon trading by the infrastructure sector , which jumped over 2 percent as the government unveiled plans to invest 400 billion yuan ($61.42 billion) in infrastructure.

(Reporting by Samuel Shen and Nathaniel Taplin; Editing by Shri Navaratnam)