BEIJING - China’s benchmark Shanghai Composite Index rose 0.48 percent to close at 3,509.68 points on Thursday, marking its first close above the 3,500-point level since January 2022. The rally was driven by strong gains in property and financial stocks amid speculation of further stimulus measures.

Meanwhile, the Shenzhen Component Index climbed 0.47 percent to end at 10,631.13 points. 

The combined turnover of these two indices stood at 1.49 trillion yuan (about $208.36 billion), down from 1.51 trillion yuan on the previous trading day.

The property sector and rare earth stocks were among the top performers, while stocks in the gaming, consumer electronics and military defense sectors suffered major losses.

The ChiNext Index, which tracks China’s Nasdaq-style board for growth enterprises, edged up 0.22 percent to finish at 2,189.58 points.

With Xinhua inputs