(Yicai Global) Dec. 17 -- Chinese stock markets closed sharply higher today while financial firms' shares surged by 2.7 percent.

The Shanghai Composite Index ended at 3,404.87, up 1.13 percent. The Star 50 Index, which tracks tech stocks on Shanghai’s Star Market, climbed 1.36 percent to 1,363.36.

The Shenzhen Component Index rose 1.01 percent to 13,889.87. The ChiNext Price Index, which tracks growth enterprises listed in Shenzhen, gained 0.9 percent to 2,785.61.

China's stock markets have performed well this year so investors are looking forward to seeing upbeat brokerage earnings. Almost 1,340 securities investment funds have been established in China this year with an issuance scale of CNY3.01 trillion (USD460.7 billion), more than the combined sums of the past three years, according to Wind data.

Editor: Emmi Laine