Mainland indices higher
After swinging between gains and losses for most of Wednesday's trading session, China's Shanghai Composite index regained positive momentum to charge up 3.5 percent, snapping a three-day losing streak, on hopes that Beijing could stem the rout in its markets.
According to Reuters, the rise on Wednesday was the bourse's biggest daily gain in one and a half weeks.
The China Securities Regulatory Commission said late Monday that the local government will increase purchases of stocks, while the central bank injected cash into money markets and hinted at further monetary easing. On late Tuesday, the country's securities regulator said it was investigating share dumping incidents that occurred on Monday.
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"Call it what you will; the aptly named 'rescue squad' have made their intentions clear and will continue to support the Chinese markets at any cost. The strength is seen in the 200-day moving average and further investigations into Monday's price plunge will limit major downswings for the next few weeks," IG's market strategist Evan Lucas wrote in a note early Monday.
Among gainers, China Shipbuilding topped the leaderboard by rising the daily limit of 10 percent.
On the other hand, blue chips put up a mixed showing; PetroChina closed down 1.7 percent, while Bank of China eased 0.6 percent. China Vanke sagged 0.1 percent, and Poly Real Estate bounced up 3 percent.
Among China's other indexes, the CSI300 index and the smaller Shenzhen Composite reversed course to surge 3.1 and 4.1 percent, respectively. In Hong Kong, the Hang Seng index drifted 0.4 percent higher.