SHANGHAI, Feb 26 (Reuters) - China stocks closed up on Thursday as insurance, banking and real estate stocks surged.
Both major mainland indices were up more than 2 percent at the close, the best percentage rise in three weeks.
The CSI300 index of the largest listed companies in Shanghai and Shenzhen rose 2.5 percent, to 3,566.29, while the Shanghai Composite Index gained 2.2 percent, to 3,298.36 points.
Financial firms were responsible for the bulk of Thursday’s rise. “Financial shares have lagged the broad market recently so the rise we see today is a technical rebound,” said Hou Yingmin, strategist at AJ Securities Co.
Leading the index higher were the Ping An Insurance Group of China, up 2.7 percent and China State Construction Engineering Corp, up almost eight percent.
Among the most active stocks in Shanghai were Bank Of China, up 2.2 percent to 4.14 yuan; China State Con , up 8.7 percent to 6.47 yuan and Agri Bank Of CN , up 2.1 percent to 3.36 yuan.
In Shenzhen, Tcl Corp, up 1.1 percent to 4.69 yuan; Boe Technology, up 1.0 percent to 3.09 yuan and Shenwan Hongyuan, up 2.8 percent to 15.93 yuan were among the most actively traded.
Total volume of A shares traded in Shanghai was 30.0 billion shares, while Shenzhen volume was 16.5 billion shares.
Reporting by the Shanghai Newsroom; Editing by Jacqueline Wong