Share prices on China's Shanghai and Shenzhen bourses plunged over two percent shortly after lower opening but the major indices successfully recovered early loss and finally closed slightly higher.
Small cap stocks, especially those listed on ChiNext Board, or China's Nasdaq-like stock market, led market gains on Tuesday. For the whole day, the benchmark Shanghai Composite Index edged up 0.14 percent to end at 3,434.34 points. The Shenzhen Composite Index gained 0.66 percent to end at 2,043.78.
The SME Index for small firms went up 0.50 percent to end at 7,928.63 and the ChiNext Index soared 1.44 percent to close at 2,563.96. Combined turnover of the two bourses shrank to 993 billion yuan from 1.11 trillion yuan on the previous trading day.
Stocks of shipbuilding, aviation, internet, medical care, logistics, computer, public transport, software and telecom operation sectors led the gainers on Tuesday while those in coal, securities brokerage, banking, paper making and petroleum sectors were among the top losers.
On the stock index futures market, the IF November contract went up 0.58 percent to end at 3,478.6, keeping a discount of 114.28 points to the underlying Hushen 300 Index, which rose 0.1 percent to end at 3,592.88.
The SSE 50 November contract added 0.18 percent to end at 2,314.8, keeping a discount of 35.1 points to the underlying SSE 50 Index, which edged down 0.01 percent to close at 2,349.90.
The CSI November contract gained 1.27 percent to end at 6,903.4, keeping a discount of 328.04 points to the underlying CSI 500 stock index, which advanced 0.62 percent to end at 7,231.44 percent.
Latest comments