本周三(12月3日)中国股市高开高走，上证综指涨幅超过4%，收复1900点大关，这一反弹表现了投资者对将于12月8日召开的中央经济工作会议出台进一步利好政策的热切期待。在这次为期两天半的会议中，预计中央将会研讨如何落实积极的财政政策和适度宽松的货币政策，以确保明年国民生产总值稳定增长的目标。

Shanghai stocks rose sharply Wednesday, led by financials and producers of coal and base metals, on hopes that a meeting of top economic policy makers¹ would come up with fresh stimulus² steps for the economy.

The Shanghai Composite Index closed 4.01 percent higher at 1965.414 points, only marginally off the day's high of 1965.83.

More than 45 of Shanghai A shares jumped their 10 percent daily limits.

Turnover³ in Shanghai A shares rose to two-week high of 88.6 billion yuan from Tuesday's 67.3 billion yuan.

The annual central economic work conference from next Monday to Wednesday will discuss how to implement⁴ a big fiscal⁵ stimulus package and monetary⁶ easing. With government officials warning that China's economic downturn accelerated in November, the market thinks the meeting may take strong action.

"The index is likely to retest 2,000 in days as investors⁷ bet on the meeting," said Wu Nan, analyst⁸ at Xiangcai Securities.

Wen Xianjun, vice-chairman of China Nonferrous Metals Industry Association, said yesterday that the government was considering buying all types of base metals as reserves to help boost domestic demand.

This helped shares in companies such as Aluminum⁹ Corp of China, which climbed 4.82 percent to 7.83 yuan.

Financials were strong after Central Huijin, an arm of China Investment Corp, said it had raised its holdings of A shares in China Construction Bank to 70.8 million as of Nov 28.

It began buying A shares in the bank from the Shanghai Stock Exchange on Sept 23, as part of a package of government measures to support the stock market. The amount of buying was tiny compared to the bank's total share capital, but the evidence of continued buying encouraged investors. CCB shares rose 5.2 percent to 4.25 yuan.

Hong Kong shares climbed 1.4 percent yesterday, with financials leading the charge, while telecom stocks gained on renewed speculation¹⁰ that 3G licences will be issued by the end of the year.

The benchmark Hang Seng Index closed up 182.81 points at 13588.66.

A total of HK$37.96 billion worth of shares were traded, down from HK$38.5 billion on Tuesday.

The China Enterprise index of Hong Kong-listed mainland companies finished up 3.3 percent at 7232.54.