Chinese shares surge from heavy losses on Thursday

Chinese shares rebounded from heavy losses in the previous two consecutive trading days, with the benchmark Shanghai Composite Index (SCI) jumping more than 3 percent to stand above the 3,000-point psychological mark.

The SCI surged 3.36 percent to finish at 3,072.54 points. The Shenzhen Component Index closed at 10,493.78 points, up 1.96 percent.

Total turnover on the two bourses slightly shrank to 579.89 billion yuan (94.73 billion U.S. dollars) from 583.97 billion yuan on the previous trading day.