(Yicai Global) April 4 -- The Shanghai Composite Index, which tracks the eastern Chinese city's stock exchange, hit a new 12-month intraday high for before today's close. The index surged 5 percent in the week running up to the traditional Tomb Sweeping Day holiday.
The index rose 0.94 percent to 3,246.57 points at the close bell with CNY475.1 billion (USD70.8 billion) swapped. The index touched 3,254.14 at 14.21 p.m., which was the highest point since March 23 last year.
The Shenzhen Component Index closed up 0.73 percent higher at 10,415.8 with a turnover of CNY529.7 billion. The ChiNext Index, which tracks growth enterprises in Shenzhen, went up 0.51 percent to 1,777.26 with CNY146.2 billion changing hands.
More sectors gained at the close, led by transportation stocks which expanded 3.47 percent. Other leading sectors included liquor and beverages, mining equipment, chemicals and car manufacturing, which all swelled over 2 percent.
The Shanghai Composite Index has seen an upward swing for four days this week, after strong Purchasing Managers' Index data released last weekend, indicating that China's economy is warming up again.
Editor: William Clegg