Shanghai shares end higher, boosted by 5G sector

The market ended higher Wednesday led by shares related to 5G after news that China is to further promote development of the sector.

The Shanghai Composite index jumped 1.05 percent at 2,601.74 points. 

Shares of telecommunication firms, brokerages and electronics companies were among the biggest gainers.

Wu Hequan, an academic with the Chinese Academy of Engineering, said that China's 5G commercialization will start with a frequency range below 6 gigahertz.

China's 5G commercialization has entered a countdown stage, with certification to be issued by the end of this year at the earliest, according to a statement from the official website of Chinese Academy of Engineering.

Qin Hong, analyst with Jingbailing Consulting, said that investors are optimistic.

"Market participants show recognition for the future prospects of the 5G sector, which boosts shares related to 5G," said Qin. 

Qingdao Topscomm Communication Inc jumped 7.16 percent to 18.70 yuan (US$2.69) and Wuhan Bester Group Telecom Co Ltd rose 5.36 percent to 22.22 yuan.