(Yicai Global) March 29 -- China's stock market surged today, with most stocks on the rise.

A US delegation arrived in Beijing for the eighth round of high-level China-US economic and trade consultations yesterday, shining a ray of hope on the market.

The Shanghai Composite Index rose 3.20 percent to 3,090.76 with a volume of CNY387 billion (USD57.5 billion). The Shenzhen Component Index climbed 3.77 percent to close at 9,906.86 points, with turnover of CNY449.6 billion. The ChiNext Index increased by 4.10 percent to 1,693.55, with CNY122.2 billion changing hands.

All sectors were on the up. Financial shares performed the best, with securities stocks up more than 8 percent. Insurance firms rose over 5 percent. More than 80 stocks hit the ten percent daily limit up bourse rules impose.

Other Asia-Pacific markets also closed higher. South Korea's Kospi was up 0.6 percent. The Nikkei 225 picked up 0.82 percent but was down 1.12 percent for the month. Australia's ASX200 Index scaled 0.1 percent and is up 0.19 percent for the month. New Zealand's NZX50 Index rose 0.81 percent after an increase of 5.58 percent for the month.

Editor: Ben Armour