BEIJING -- Chinese stocks closed higher on Wednesday, with the benchmark Shanghai Composite Index up 2.06 percent to 2,938.75 points.

The Shenzhen Component Index closed 3.37 percent higher at 8,754.09 points.

The combined turnover of stocks covered by the two indices stood at 903.3 billion yuan ($127.23 billion), up from 599.48 billion yuan recorded on the previous trading day.

Shares related to the securities sector, robots, and pharmaceutical sector led the gains, while those related to the banking sector and road and railway transportation showed the least growth.

The ChiNext Index, tracking China's Nasdaq-style board of growth enterprises, gained 3.51 percent to close at 1,688.14 points.