China Shares Rise for 3rd Day, Sustaining Rebound

Chinese shares rose for the third straight session on Thursday, extending the previous day's 4 percent rally, as investors await policy cues from a key meeting of China's top legislature that starts on Saturday.

The CSI300 index of the largest listed companies in Shanghai and Shenzhen rose 0.2 percent, to 3,058.42, while the Shanghai Composite Index gained 0.4 percent, to 2,859.76 points.

The market has rebounded in the wake of the central bank's announcement on Monday night to inject liquidity into the banking system, by cutting reserve ratios for big commercial lenders.

Property shares gave up initial gains in afternoon trading as investors took profit from strong increases over recent sessions, while banking and consumer stocks helped bolster the main indexes.

(Reporting by Samuel Shen and Nathaniel Taplin; Editing by Jacqueline Wong)