(Yicai Global) Jan. 4 -- Chinese Stock Markets recovered from a low open and soared during this morning's trade. The rebound coincided with the release of a survey that indicated that activity in the country's service industry boomed at the end of 2018.

The Shanghai Composite Index rose 1.81 percent to 2,509.02 points at the break, after hitting a four-year low at the open. Some CNY77.8 billion (USD11.3 billion) was swapped. The Shenzhen Component Index closed at 7,260.23 points, up 2.41 percent, with a turnover of CNY103 billion. The Growth Enterprise Index, also in Shenzhen, rose 2.22 percent to 1,241.48 points, with CNY31 billion changing hands.

The securities brokerage sector led the rebound, soaring 7.44 percent, and all sectors closed up across the board. Other leading sectors included internet, insurance and software.

The Caixin service industry Purchasing Managers' Index for December rose 0.1 point to 53.9 from the month before, representing a six-month high. The number went against the manufacturing PMI released earlier, which fell 0.5 point to make up China's first contraction since June 2017.

Editor: William Clegg