(Yicai Global) Feb. 17 -- Shanghai's main stock benchmark rose back to the level before the Spring Festival when the novel coronavirus outbreak started wreaking havoc marketwide after the central bank cut its one-year MLF rate today.

The Shanghai Composite Index finished the day 2.28 percent up at 2,983.62. The Shenzhen Component Index ended 2.98 percent higher at 11,241.50. The ChiNext Price Index, which tracks growth enterprises listed in Shenzhen, rose 3.72 percent to 2,146.18. 

The People's Bank of China lowered its medium-term lending facility loan rate by 10 basis points today, prompting expectations of a loan prime rate cut for Feb. 20, both of which may have spurred the stock market climbs. 

Warehousing and logistics sectors were particularly victorious today as these stocks climbed over 7 percent on average. Brokerages rose by nearly 4.9 percent. 

Editor: Emmi Laine