Chinese stocks closed higher on Wednesday, with the benchmark Shanghai Composite Index up 2.70 percent to 3,995.00 points.
The Shenzhen Component Index closed 4.79 percent higher at 14,042.50 points.
The combined turnover of the two indices totaled 2.43 trillion yuan (about 353.8 billion U.S. dollars), expanding from 1.61 trillion yuan on the previous trading day.
Precious metals, AI applications, computing hardware and semiconductor chips led the gains, while oil, gas, coal and pharmaceutical retail bucked the trend and fell.
The ChiNext Index, tracking China's Nasdaq-style board of growth enterprises, gained 5.91 percent to close at 3,347.61 points.
The STAR Composite Index, which reflects the performance of stocks on China's sci-tech innovation board, closed 5.64 percent higher at 1,738.35 points.
Chinese shares close higher Wednesday
Housing markets in China's first-tier cities have seen a recovery in recent weeks and have continued to gain momentum so far in April, with transactions for both new and second‑hand homes on the rise.
Data showed that from April 1 to 6, the capital Beijing registered 2,100 second‑hand home sales online, up 11.8 percent year on year, and 850 new commercial residential units online, up 17.4 percent year on year.
Real estate agencies in several districts welcomed a steady stream of clients during the three-day Qingming Festival holiday, also known as the Tomb-sweeping Festival, which ended Monday.
One agency manager said that until 20:00 on the last day of the holiday, all 10 of their contract-signing rooms were still full.
Ma Xinguo, another agency manager, said that the holiday rush seems to indicate continued momentum in the market.
"It is estimated that 50 to 60 deals were reached (during the holiday). Compared with weekends in March, the overall momentum in contract signings has not decreased," said Ma.
Similar scenes unfolded in both Shanghai and the southern city of Guangzhou, where housing markets maintained the momentum seen in March and attracted large numbers of homebuyers.
According to data from Anjuke, a real-estate listing platform, 203 new homes were sold in Shanghai during the Qingming Festival holiday, a 12.8 percent increase from the same period last year. The pre-owned housing market performed even better, with 1,224 second-hand homes sold, a 17.7 percent year-on-year increase.
Li Wanping, a manager at a real estate agency in Guangzhou, said that their office saw a steady stream of clients during the recent holiday.
"We have so many clients that our sales team can't keep up right now. In the last few days, we've been closing about three to four properties a day on average," said Li.
An industry expert noted that Guangzhou's housing-market recovery reflects the impact of policy support, released pent-up demand, and restored market confidence, indicating more rational and healthy development for the housing markets.
"The housing market for this year and next will see a slight price adjustment, with a bottoming out and localized rebound. As a first-tier city, Guangzhou continues to enjoy strong demand and vitality," said Ou Jiangbo, director of the Institute of Quantitative Economics at the Guangzhou Academy of Social Sciences.
China will work to stabilize the real estate market this year, with city-specific policies to control the number of new real estate projects, reduce housing inventory, and improve supply, according to this year's government work report.
The country will take well-ordered steps to promote the development of quality homes that are safe, comfortable, eco-friendly and smart, and carry out projects to enhance housing quality and initiatives to improve property services, the report said.
The report also noted that efforts will be made to provide housing support for first-time married couples and those with their first child, and help families with children meet their needs for better housing.
Housing market shows active signs in April as major cities see rebound
