(Yicai Global) Feb. 25 -- Stock markets on the Chinese mainland furthered morning gains this afternoon as investors leapt behind an encouraging speech from President Xi Jinping, setting a more than three-year trading volume high.

The Shanghai Composite Index finished the day 5.6 percent higher at 2,961.28, its highest level since June, while the Shenzhen Component Index gained 5.59 percent to 9,134.58, an almost seven month peak. The ChiNext Price Index, which tracks growth enterprises in Shenzhen, soared 5.5 percent to close at 1,536.37, also an almost seven-month high.

The overall trading volume rocketed to CNY1.04 trillion (USD155 billion), the most since November 2015. Of the three board's roughly 3,600 active stocks, only 12 stocks fell while 302 hit the 10 percent daily limit up, many of which were in the financial and technology sectors -- mostly brokerages and fintech developers.

China's financial sector is one of the country's core competitive pillars, Xi said at a study meeting of the Communist Party of China Central Committee Political Bureau on Feb. 22, adding that financial security is critical to national security and the financial system is a fundamental mechanism in economic and social development.

The latest push builds on a two-week surge in Shanghai, which has risen 14.3 percent since Feb. 11, the first trading day after the end of the week-long Chinese New Year holiday. The Shenzhen and ChiNext benchmarks have moved similarly, rising 18.9 percent and 20.9 percent respectively.

Flexible electronic screen makers have made a strong run over the same period as phone manufacturers have unveiled their latest folding devices, which investors hold high hopes for. Huawei Technology, one of China's top smartphone brands, debuted its foldable 5G handset on Feb. 24 on the eve of the Mobile World Congress 2019 in Barcelona, Spain, shortly after Samsung showed off its Galaxy Fold.

Another factor helping the stock markets along was the high-level talks held between China and the United States over the weekend. American President Donald Trump said yesterday that  he "will be delaying" the scheduled March 1 tariff hike on Chinese imports after making "substantial progress in our trade talks with China on important structural issues including intellectual property protection, technology transfer, agriculture, services, currency, and many other issues."

China's US delegation backed that up the same day, highlighting that "substantial progress" was made during high-level economic and trade talks in Washington.