China stocks rise 0.76%; telecoms up

China's key stock index rose 0.76 percent Wednesday, with telecommunications-related shares firmer on strong subscriber growth.

Some recently-listed companies, however, slipped below their IPO prices with sentiment weighed down by worries over rising share supplies.

The Shanghai Composite Index ended at 3,073.777 points, managing a modest technical rebound after closing at its lowest in seven weeks on Tuesday.

Gaining Shanghai A shares outnumbered losers by 792 to 97, while turnover sank to 91 billion yuan ($13.33 billion) from Tuesday's already low 99 billion yuan ($14.50 billion).

The index remained below a closely watched support level at its 125-day moving average, now at 3,096 points.
 

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