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Chinese shares close higher Tuesday

BEIJING
2016-08-30 15:10

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Chinese stocks closed higher Tuesday, led by aviation and banking shares. 

​The benchmark Shanghai Composite Index rose 0.15 percent to close at 3,074.68 points. The Shenzhen index closed 0.04 percent higher at 10,729.12 points. 

The ChiNext Index, tracking China's NASDAQ-style enterprises, was up 0.11 percent to close at 2,195.53 points. 

Turnover on the two bourses fell to 422.44 billion yuan (around 63.24 billion U.S. dollars), down from 431.87 billion yuan the previous trading day. 

Aviation and military stocks continued their bullish performance, buoyed by the establishment of the Aero Engine Corporation of China on Sunday. 

Avic Aero-engine Controls, a leading aircraft engine maker, jumped 7.74 percent year on year to finish at 30.33 yuan. 

Lenders rebounded Tuesday, shaking off generally weak earnings reports and concerns about bad loans. 

The Industrial and Commercial Bank of China, the biggest lender by market value, added 0.45 percent to close at 4.51 yuan. Bucking the trend, environmental protection shares erased earlier gains to close lower, with the sub-index for the sector down 1.53 percent. 

Guangxi Bossco Environmental Protection Technology, a waste water treatment company, dropped 5.39 percent to end at 38.98 yuan.

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