Stocks rise for fourth straight day

Stock markets on the Chinese mainland rose for the fourth straight day on Wednesday, with better-than-expected export data.

The benchmark Shanghai Composite Index inched up 6.28 points or 0.30 percent to 2,109.96 points on Wednesday. The Shenzhen Component Index rose 63.96 points or 0.82 percent to 7,902.08 points.

Combined turnover on the two bourses on Wednesday was 280.05 billion yuan ($46.19 billion), decreasing from Tuesday's 309.31 billion yuan.

Investors cheered upbeat trading data on Wednesday. Chinese January exports climbed 10.6 percent from a year earlier while imports jumped 10 percent. China logged a trade surplus of $31.9 billion for the month.

Shares linked with Tianjin Free Trade Zone performed well on Wednesday, following media reports that the city in North China might get approval for plans for the zone from the central government within the first six months of this year.

Developers Tianjin Song-jiang Co and Tianjin Jinbin Development Co soared by the daily limit of 10 percent to 7.24 yuan and 5.67 yuan respectively.

Beijing Wangfujing Department Store announced a partnership with Tencent Holdings focusing on online platforms and mobile payment on Wednesday. The news boosted Wangfujing's shares up by the daily limit of 10 percent to 20.25 yuan.

Stocks linked to US-based electric car maker Tesla Motors Inc continued their recent upward movement on Wednesday. Tesla began selling its high-end Model S electric car on the Chinese market this month with a lower-than-expected price tag of 734,000 yuan.

Kingray New Materials Science and Technology Co soared by the daily limit of 10 percent for a fourth day to 6.69 yuan.

Recently listed stocks continued to attract funds. Stocks including China Wafer Level CSP and Guangdong East Power Co jumped 10 percent on Wednesday.

ChiNext, China's NASDAQ-style board for high-tech and fast-growing start-ups listed in Shenzhen, rose 12.81 points or 0.84 percent from the previous trading day to 1,539.97 points.