China stocks close slightly higher Wednesday

Chinese stocks climbed slightly on Wednesday after a steep advance made on Tuesday on central bank's massive reverse repurchase operation. The benchmark Shanghai Composite Index gained 4.71 points, or 0.22 percent, led by geothermal energy and iron and steel stocks, to finish at 2,119.94. The Shenzhen Component Index edged up 0.34 percent, or 29.82 points, to close at 8,773.68. Combined turnover increased to 126.42 billion yuan (19.94 billion U.S. dollars) on Wednesday from 132.57 billion yuan the previous trading day. Gainers outnumbered losers by 696 to 205 in Shanghai and by 1,222 to 254 in Shenzhen. Geothermal energy shares led the rises, as six shares have jumped by the 10-percent daily limit for three consecutive days, including Dalian Refrigeration Co. surging 10.01 percent to finish at 7.58 yuan per share and Zhejiang IDC Fluid Control Co. jumping 9.98 percent to close at 10.36 yuan per share. Cheaply priced iron and steel stocks also surged. Anyang Iron & Steel Inc. added 4.27 percent to close at 2.20 yuan per share. Liuzhou Iron & Steel Co. climbed 3.91 percent to finish at 2.66 yuan per share. Bucking the trend, insurance shares led the declines. Chinese insurance giant New China Life Insurance Co. slipped 1.52 percent to close at 24.59 yuan per share.