Chinese shares reach 43-month high

An investor checking stock index in a localbrokerage firm, at Fuyang, Anhui province, Dec 2, 2014. [Photo/IC]

Chinese stocks rose for the third consecutive day to a new high in 43 months, with the benchmark Shanghai Composite Index reaching 2899.46 points or gaining 4.31 percent at close on Thursday.

In the rally, 55 A-shares, including 17 from securities companies, have hit the 10 percent daily-rise ceiling.

The new peak was led by financial and petrochemical companies, mainly influenced by boosted market liquidity after the central bank cut interest rates.

The Shenzhen Component Index rose 4 percent and returned to above 10,000 after 21 months.

The total transaction volume in the Shanghai and Shenzhen markets has reached more than 880 billion yuan ($142.98 billion).