Chinese shares bounced more than 1 percent at midday Wednesday, boosted by expectation of high-speed railway-related companies as China kicked its annual Spring Festival travel rush season Wednesday.

Some 700 million Chinese are expected to move around China during the 40-day long travel rush period.

The benchmark Shanghai Composite Index reversed its early losses at opening and gained 28.68 points, or 1.06 percent, to end at 2,737.66 at midday.

The Shenzhen Component Index opened 0.12 percent lower at 11,785.5 and moved out of negative territory and rose 141.49 points, or 1.2 percent, to finish at 11,913.08 before the morning break.