BEIJING - Chinese stocks closed higher on Wednesday, with the benchmark Shanghai Composite Index up 1.04 percent to 3,766.21 points after hitting an intra-day high of 3,767.43, the highest level in nearly a decade.

The Shenzhen Component Index closed 0.89 percent higher at 11,926.74 points.

The combined turnover of these two indices stood at about 2.4 trillion yuan (about $336 billion), down from 2.59 trillion yuan the previous trading day.

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Stocks related to liquid metal and semiconductor led the gains, while stocks related to innovative drugs and movie theaters suffered major losses.

The ChiNext Index, tracking China's Nasdaq-style board of growth enterprises, increased 0.23 percent to close at 2,607.65 points.