BEIJING - Chinese stocks closed higher on Wednesday, with the benchmark Shanghai Composite Index up 0.7 percent to 4,016.33 points.

The Shenzhen Component Index closed 1.95 percent higher at 13,691.38 points.

The combined turnover of these two indices stood at 2.26 trillion yuan ($319 billion) - up from 2.15 trillion yuan on the previous trading day.

Shares related to nonferrous metals led the gains, while those related to banking and cinema chains suffered major losses.

The ChiNext Index, tracking China's Nasdaq-style board of growth enterprises, gained 2.93 percent to close at 3,324.27 points.