Share buybacks spur 3.6% rebound

China's benchmark stock index jumped 3.64 percent yesterday to its highest close in more than three weeks, supported by share buybacks by State-owned firms and by signs of progress in long-awaited market reforms.

The Shanghai Composite Index ended at 2297.501 points, its highest close since Sept 2, after rising to as high as 2333.277.

Turnover rebounded to 83.3 billion yuan, up sharply from Wednesday's diminished 48.90 billion, while gaining shares overwhelmed fallers by 850 to 65.