BEIJING, May 18 (Xinhua) -- Chinese shares rebounded Friday after two days of losses, with oil stocks rising the most.

The benchmark Shanghai Composite Index ended 1.24 percent higher at 3,193.3 points while the Shenzhen Component Index closed 0.35 percent higher at 10,672.52 points.

Combined turnover on the two bourses stood at 376.2 billion yuan (about 59 billion U.S. dollars), slightly up from 357.2 billion yuan on the previous trading day.

Stocks of oil companies were particularly strong as international oil prices keep rising.

Chinese oil giant PetroChina saw its shares surge 7.33 percent while shares of China Petroleum Engineering Company jumped by the daily limit of 10 percent.

Financial heavyweights also registered widespread gains. China Merchants Bank saw its shares rise by 2.21 percent, while stocks of Ping An Insurance ended 1.68 percent higher.

The ChiNext Index, which tracks China's NASDAQ-style board of growth enterprises, went up 0.3 percent to close at 1,836.75 points Friday.