Tech shares lead market recovery

Chinese stocks rose, driving the benchmark index above 3,000 for the first time in a month, as brokerage and technology shares gained after the government said it will review initial share sales on a new startup board.

CITIC Securities Co rose 3.4 percent to 28.38 yuan after the China Securities Regulatory Commission said it would consider proposals on Sept 17 from seven companies to list on the NASDAQ-like board on the Shenzhen bourse aimed at technology companies.

Founder Technology Group Corp jumped by the 10 percent limit to 4.65 yuan, the biggest gain in five months, on speculation higher valuations for the startups will boost existing equities in the industry.