China's stocks ceased their recent declines and rebounded on Wednesday boosted by news that the country's inflation eased last month as food prices posted slower price gains.
Government data released Wednesday showed that the consumer prices increased 5.5 percent in October from a year earlier, weakening from 6.1 percent in September. It also marked the slowest surge since May this year.
The benchmark Shanghai Composite Index rose 0.84 percent, or 21.08 points, to end at 2,524.92.
The Shenzhen Component Index increased 0.80 percent, or 84.78 points, to finish at 10,625.88.
Combined turnover hiked to 156.82 billion yuan (24.73 billion U.S. dollars) from Tuesday's 146.67 billion yuan.
Gainers outnumbered losers 795 to 104 in Shanghai and 1,225 to 107 in Shenzhen.
Stocks of media and entertainment companies rallied after declines on Tuesday. Time Publishing and Media Co., Ltd. rose 5.78 percent to close at 14.09 yuan per share.
Shares of insurance companies also led growth with China Life up 2.77 percent to 18.19 yuan per share; Ping An Insurance rose 1.58 percent to 40.54 yuan.
Stock prices of China's two telecommunication giants dropped after the National Development and Reform Commission confirmed Wednesday that it is investigating China Telecom and China Unicom over suspected monopoly in the broadband access business.
Hong Kong-listed China Telecom dropped 0.41 percent while China Unicom, listed in Shanghai, tumbled 2.84 percent.
