Shanghai Composite extends gain

The Mainland China's stock market advanced for second straight session on Wednesday, 08 September 2015, amid optimism the government will succeed in shoring up equities after a $5 trillion rout. Bargain buying amplified further after statement from finance ministry that China will implement stronger fiscal policy to boost its economy. The Shanghai Composite Index gained 2.29%, or 72.64 points, to 3243.09 points, on the top of yesterday's 2.9% gains. The Shenzhen Composite Index, which tracks stocks on China's second exchange, was up 3.3%, or 57.30 points, to 1798.84. The ChiNext Index, which tracks China's NASDAQ-style board of growth enterprises, gained 3.53%, or 70.56 points, to close at 2071.72. China's Ministry of Finance said on Wednesday that the government will strengthen fiscal policy, boost infrastructure spending and speed up reform of its tax system to support the economy, adding to other steps by authorities to re-energise sputtering growth.

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