BEIJING - Chinese stock markets closed higher on the first trading Day in December, ending a slump on the previous trading day.

The rally came after the country's central bank announced Wednesday it would cut bank's reserves requirement ratio by 50 basis points effective on Dec 5.

The benchmark Shanghai Composite Index rose 2.29 percent, or 53.45 points, to close at 2,386.86.

The Shenzhen Component Index gained 2.32 percent, or 224.48 points to finish at 9,917.86.