China's key stock index rose 2.56 percent on Wednesday, moving up for the seventh consecutive trading session, with bank shares getting a boost by a sharp appreciation of the country's currency.

China's key stock index rose 1.91 percent on Tuesday, rising for the sixth consecutive trading session after plunging 8.26 percent on Monday 4 June.

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.

Chinese shares plunged again on Monday, with the major Shanghai Composite Index falling by 8.26 percent after heavy falls last week. Investors were left rubbing their eyes after a cumulative fall of over 15 percent since the bourses struck a high point of 4335.18 points on May 29.

China increased its tax on share trades, leading to a 6.5 percent drop in its main stock index and jitters throughout Asian markets. The benchmark Shanghai Composite Index fell 281 points Wednesday after China's decision to triple its tax on share trades.

China plans to raise the quota for foreign share investments under its Qualified Foreign Institutional Investor program to US$30 billion (euro22.2 billion) from US$10 billion (euro7.4 billion), a state-run newspaper said Wednesday.