Mainland stock exchanges boosted by property gains

Stock markets in the Chinese mainland saw a mild rise Wednesday, led by gains in the property sector.

The benchmark Shanghai Composite Index rose by 11.53 points or 0.56 percent to 2,058.99 points on Wednesday. The Shenzhen Component Index was up by 52.48 points or 0.72 percent to 7,333.59 points.

Combined turnover on the two bourses on Wednesday was 165.43 billion yuan ($26.66 billion), up from Tuesday's 139.71 billion yuan.

Mainland developers saw their shares jump by an average of 2.77 percent on Wednesday after Shanghai Securities News reported that governments in several second-tier cities, including Hangzhou, Wenzhou and Changsha, are considering easing restrictions on home ownership.

Shares in nine developers including Huayun Property Co and China Calxon Group jumped by the daily limit of 10 percent, leading the gains in the market on Wednesday.

The country's two biggest real estate companies by sales, China Vanke Co and Poly Real Estate Group, rose by 2.60 percent to 8.29 yuan and 7.01 percent to 8.24 yuan, respectively.

The news also boosted companies tied to construction materials. BBMG Corp soared by 9.94 percent.

Nonferrous, coal, steel and auto firms also outperformed on Wednesday, while healthcare and Internet companies weighed on the markets.

ChiNext, China's NASDAQ-style board for high-tech and fast-growing start-ups listed in Shenzhen, fell back on Wednesday by 27.07 points or 2.00 percent to 1,327.98 points.