China stocks close higher, banks lead

Chinese shares closed higher on Wednesday as the central bank's money injection into the banking system boosted market sentiment.

The benchmark Shanghai Composite Index rose 0.56 percent, or 11.40 points, to finish at 2,049.91. The Shenzhen Component Index lost 0.43 percent, or 33.16 points, to close at 7,707.59.

Combined turnover on the two bourses expanded to 180.0 billion yuan (29.8 billion U.S. dollars) from 176.8 billion yuan on the previous trading day.

The Chinese central bank pumped 150 billion yuan (24.8 billion U.S. dollars) into the money market on Tuesday through 14-day reverse repurchase agreement (repo) operations. After offsetting the expired 75 billion yuan 7-day reverse repos, the injection brought a 75 billion yuan net cash inflow into the money market.

Bank shares led the rises. China Minsheng Bank edged up 2.64 percent. The Bank of China rose 1.61 percent and the Industrial and Commercial Bank of China gained 1.48 percent.

The ChiNext Index, a Nasdaq-style board tracking China's growth enterprises, gained 1.71 percent, or 25.19 points, to end at 1,496.53 points.