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Chinese shares up 2.28% on upbeat investor confidence

(Xinhua)
Updated: 2009-02-04 15:59

Chinese shares went up 2.28 percent on Wednesday led by blue chips amid booming confidence.

Related readings:  Chinese shares gain 2.44% on stimulus prospects  Chinese shares up 1% as recovery signs boost confidence  Stock market gives investors holiday cheer  Shares stand above 2,000 points on positive economic trends

The Shanghai A-share index rose 46.94 points, or 2.28 percent, to close at 2,107.75, while the Shenzhen Component Index gained 211.22 points, or 2.91 percent, to finish at 7,477.63.

Power stocks outperformed on news that China will invest 580 billion yuan ($85.3 billion) this year in the sector.

Gains outnumbered losses by 714 to 97 in Shanghai and 600 to 86 in Shenzhen. Combined turnover reached a high of 169.3 billion yuan from Tuesday's 148 billion yuan.