Beijing  - Chinese stocks rallied to close more than 4 per cent up Wednesday, led by gains of heavyweight banks.

The benchmark Shanghai Composite Index closed at 1965.41 points, up 4.01 per cent or 75.78 points. The smaller Shenzhen Component Index added 245.26 points, or
3.61 percent, to close at 7041.07 points.

Gainers outnumbered losers by 860 to 6 in Shanghai and by 739 to 3 in Shenzhen. Combined turnover was up to 132.78 billion yuan (19.4 billion dollars).