Chinese stocks inched higher on Wednesday, with property shares surging on policy support hopes as well as signs that insurers are scrambling for stakes in major real estate firms.

The market was also aided by stabilizing resources shares, bolstered by evidence that Beijing is accelerating consolidation among metals producers.

The blue-chip CSI300 Index rose 0.4 percent, to 3,635.94 points, while the Shanghai Composite Index gained 0.1 percent, to 3,472.44 points.