SHANGHAI: Chinese stocks closed higher on Tuesday after five straight days of losses, helped by financials and energy, after the sentiment took a hit from margin trading curbs and worries over new listings.
The CSI300 index of the largest listed companies in Shanghai and Shenzhen rose 2.5 per cent to 3,437.45, while the Shanghai Composite Index gained 2.4 per cent to 3,204.91 points.
The financial sub-index leapt 3.4 per cent, banks jumped 2.6 per cent and energy companies gained 2.8 per cent.
China Life Insurance and Beijing Shiji Information Technology hit their daily trading limits of 10 per cent.
Among the most active stocks in Shanghai were Bank of China, up 3.9 per cent at 4.29 yuan; ICBC, up 1.8 per cent at 4.49 yuan; and China Petroleum, up 2.4 per cent at 6.01 yuan.
In Shenzhen, Suning Commerce Group, up 10.0 per cent at 11.36 yuan; China Vanke, up 0.7 per cent at 12.97 yuan; and Shenwan Hongyuan, up 2.7 per cent at 16.03 yuan were among the most actively traded.
Foreign investment flowing into Shanghai from Hong Kong through the mutual market access pilot programme took up 3.35 billion yuan of the 13 billion yuan daily quota.
Total volume of A shares traded in Shanghai was 22.6 billion shares, while Shenzhen volume was 13.6 billion shares.
