Chinese stocks extended their winning streak for the eighth consecutive day on Thursday as the ongoing economic recovery fuelled optimistic sentiment.

The benchmark Shanghai Composite Index went up 1.39 percent to close at 3,450.59 points, and the Shenzhen Component Index closed 2.6 percent higher at 13,754.74 points.

The combined turnover of stocks covered by the two indices stood at 1.72 trillion yuan (about 247 billion U.S. dollars), exceeding 1.5 trillion yuan for the fourth consecutive trading day.

Following a flat opening, the Shanghai Composite Index quickly ticked up in the morning session and maintained steam for much of the trading day, with shares related to duty-free shops and gold leading the gains.

Bucking the trend, sectors including water conservation, securities and banks reported heavy losses.

Official data on Thursday showed China's consumer inflation remained generally stable in June under the country's continued efforts toward economic recovery, while factory-gate prices picked up from May as demand warmed.

The ChiNext Index, China's NASDAQ-style board of growth enterprises, gained 3.98 percent to close at 2,757.65 points Thursday. 

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