Mainland stock markets continue winning streak as brokerages outperform

Stock markets on the Chinese mainland extended gains for a second straight day backed by a rally in brokerage companies.

The Shanghai Composite Index rose by 1.47 percent or 33.86 points to 2,343.57 points on Wednesday. The Shenzhen Component Index gained by 1.69 percent or 134.34 points to 8,100.22 points.

Combined turnover on the two bourses on Wednesday was 388.98 billion yuan ($63.40 billion), up from Tuesday's 300.07 billion yuan.

Securities companies rallied following media reports saying that the China Securities Regulatory Commission urged brokerages to raise fresh capital for companies. Changjiang Securities Co and Western Securities Co jumped by the daily limit of 10 percent to 6.77 yuan and 14.08 yuan, respectively.

Nonferrous, coal and steel companies also gained strongly. Wintime Energy Co added 8.01 percent to 4.99 yuan and Shaanxi Coal Industry Co jumped by 10 percent to 5.14 yuan

Shares linked to aerospace and military continued the recent upward movement on Wednesday as investors keep their eyes on a government meeting on reform of the airspace control in October. Jiangxi Hongdu Aviation Industry soared by 10 percent to 27.58 yuan and China AVIC Electronics Co climbed 4.93 percent to 26.64 yuan.

ChiNext, China's NASDAQ-style board for high-tech and start-ups listed in Shenzhen, gained by 1.09 percent or 16.43 points to 1,517.42 points on Wednesday.