China stocks close higher on Tuesday

Strong heavyweight stock gains supported Chinese shares in a moderate rally on Tuesday, with the benchmark Shanghai Composite Index up 0.86 percent to close at 2,026.84 points. The Shenzhen Component Index rose 1.23 percent to close at 7,665.77. Combined turnover of the two bourses expanded to 146.4 billion yuan (24.03 billion U.S. dollars) from 136.34 billion yuan on the previous trading day. Sinopec, the country's largest oil refiner, surged 2.46 percent to 4.59 yuan per share; PetroChina, the nation's largest oil and gas producer, gained 0.93 percent to hit 7.62 yuan. The ChiNext Index, a Nasdaq-style board tracking China's growth enterprises, surged 2.8 percent, or 38.13 points, to end at 1,400.92 points on Tuesday. Bucking the trend, bank shares fell with the Industrial and Commercial Bank of China down 0.57 percent to 3.52 yuan; Bank of China dipped 0.4 percent to 2.51 yuan.