Chinese shares close 2.94% higher

Chinese shares ended 2.94 percent higher on Thursday, continuing Wednesday's rebound trend from recent plunges, boosted by steel and energy heavyweights.

The benchmark Shanghai Composite Index on the Shanghai Stock Exchange closed at 3,446.24 points, up 2.94 percent, with an intra-day high of 3,456.95 points.

Metal shares boosted the index up. Baosteel, China's largest iron and steel maker, surged 5.40 percent to 11.71 yuan ($1.67) and Angang Steel jumped 9.14 percent to 20.30 yuan. Chinalco, the nation's biggest aluminum maker, gained a limit-up of 10 percent to hit 20.78 yuan.

Energy caps also contributed to the upward movement. Sinopec climbed 2.89 percent to 12.46 yuan and China Shenhua Energy, the country's largest coal producer, added 4.23 percent to 42.88 yuan.

The Shenzhen Component Index on the Shenzhen Stock Exchange ended at 12,652.91 points, up 2.50 percent, ending the downward trend for the previous three consecutive trading days.

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