China's benchmark Shanghai Composite Index, which tracks both yuan-denominated A shares and hard-currency B shares, rose 3.03 percent on Thursday, or 114.48 points, to close at 3,890.80 points.
The Shenzhen Component Index soared 2.9 percent, or 357.82 points, to close at 12,696.00 points.
Chinese stock markets have been rising for three consecutive days, up 2.63 percent, 0.23 percent and 3.03 percent from Tuesday to Thursday, after nose-diving on Monday by 8.26 percent.
The consecutive rise indicates that investors have recovered confidence to some extent from the sell-off triggered by the government's decision to raise the stamp tax on securities trading from 0.1 percent to 0.3 percent.
Sources were quoted by Shanghai Securities News as saying that the Chinese government has no plan to levy a capital gains tax, which further help lift anxieties of investors.
"It is completely baseless to suggest that a capital gains tax could be levied at any time," sources were quoted as saying.
The two bourses reported a total turnover of 271.651 billion yuan Thursday, a little lower than 274.864 billion yuan on Wednesday but far higher than 225.89 billion yuan on Monday. SOURCE: Government of China
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