The Chinese mainland’s three major A-share indexes rose across the board on Wednesday. The ChiNext Index climbed nearly 2 percent, breaking above the 3,100 mark to hit a new stage high.

Analysts believe the A-share market is likely to advance further in the fourth quarter, with core drivers coming from policy support and ample liquidity.

At the close, the Shanghai Composite Index stood at 3,876.34, up 0.37 percent; the Shenzhen Component Index closed at 13,215.46, up 1.16 percent; and the ChiNext Index, which tracks China’s Nasdaq-style board of growth enterprises, finished at 3,147.35, up 1.95 percent.

By sector, diversified finance, motorcycles, electrical equipment and?grid systems, power generation equipment, and automotive components led the gains, according to market tracker Wind Info.

Guohai Securities noted that equity risk premiums still point to favorable cost-performance ratios for stocks, with valuations retaining room for expansion. The main drivers are incremental policy measures and supportive macro- and micro-liquidity. Investment strategies are likely to take a more balanced approach in the fourth quarter, with room for both growth and value stocks.

Guohai Securities said future sector allocation will focus on two main themes. The first is technology growth stocks, targeting companies with strong innovation capacity and high growth potential. The second is what the brokerage described as “anti-involution” stocks — industries with reasonable valuations, balanced supply and demand, and less exposure to intense price competition.

The brokerage added that the strong momentum in the computing power sector has been further confirmed, and multiple potential catalysts for technology themes in the fourth quarter suggest the overall bullish sentiment is likely to continue.

Hong Kong’s stock market also ended higher on Wednesday?with the?benchmark?Hang Seng Index?up 1.78 percent?to close at 26,908.39 points.

The Hang Seng China Enterprises Index closed at 9,596.77 points, rising 2.24 percent, and the Hang Seng Tech Index finished at 6,334.24 points, gaining 4.22 percent.