Investors cheered by expected reforms

Investors were upbeat on Wednesday thanks to the coming pilot program for State-owned enterprise reform and the new securities chief's first comments since taking up his post on Saturday.

Chinese mainland stocks gained ahead of Thursday's expected launch of the pilot program for SOE reform.

The benchmark Shanghai Composite Index jumped 0.88 percent to close at 2,928.90 points. The Shenzhen Component Index rose 0.08 percent while the startup index ChiNext declined 0.65 percent.