Chinese shares close higher on Tuesday

Major Chinese stock indices on Tuesday ended higher, with the benchmark Shanghai Composite Index up 0.5 per cent to end at 2,954.38 points.

The Shenzhen Component Index closed 0.93 per cent higher at 9,642.09 points.

However, the combined trading volume of stocks in the two indexes shrank to 357 billion yuan (or about 50.51 billion U.S. dollars) from 370.08 billion yuan the previous trading day.

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Most stocks surged, with gainers outnumbering losers by 1,125 to 277 on the Shanghai bourse and 1,662 to 419 in Shenzhen.

Meanwhile, companies related to digital currency and intelligent speakers mostly gained, with the share price of Julong Ltd. and Keda Group Ltd. in digital currency business plunging by the daily limit of 10 per cent.

Companies related to poultry and soybean industries led the losses.

The ChiNext Index, China’s NASDAQ-style board of growth enterprises, gained 1.36 per cent to close at 1,666.87 points.