China's stocks edged up Tuesday as long and short investors fought with each other near the line of 3,000 points.
The benchmark Shanghai Composite Index went up 0.3 percent to finish at 3,042.82 points, and the smaller Shenzhen index closed 0.32 percent higher at 10,602.46 points. The ChiNext Index, which tracks China's NASDAQ-style board of growth enterprises, gained 0.31 percent to close at 2,272.52 points.
Total turnover on the two bourses shrank by about 51.2 billion yuan (7.9 billion U.S. dollars) from Monday to 505.9 billion yuan on Tuesday, indicating rising wait-and-see market sentiment. The shares ebbed and flowed with mild fluctuations.
New shares enjoyed the largest gains, while coal shares suffered the biggest blow. The Shanghai Composite Index rebounded from 2,655.66 points in January and it has stayed around 3,000 points for weeks as the broader economy, which is still under downward pressure, has shown signs of stabilization.
On a weekly basis, new investors grew 34.5 percent last week to some 393,500, according to the China Securities Depository and Clearing Corporation.
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