Chinese shares hit a 10-month high after rising 0.11 percent Tuesday, led by heavyweights and property sector.

The benchmark Shanghai Composite Index rose 3.02 points, or 0.11 percent, to close at 2,724.3. The Shenzhen Component Index was up 0.6 percent, or 62.99 points, to 10,484.33.

Gains outnumbered losses by 462 to 386 in Shanghai and 393 to 340 in Shenzhen.

Combined turnover rose to 240.42 billion yuan (35.1 billion U.S. dollars) from 225.23 billion yuan on the previous trading day.

PetroChina, China's largest oil producer, rose 0.42 percent to 14.23 yuan after world crude oil prices rose.

Light, sweet crude oil for July delivery rose 2.27 U.S. dollars, or 3.4 percent, to settle at 68.58 dollars a barrel on the New York Mercantile Exchange on Monday, recording its sixth consecutive gain.

The real estate sector performed strongly as the industry gained impetus on government plans for low-rent housing.

The Ministry of Housing and Urban-Rural Development, together with the Ministry of Finance and the National Reform and Development Commission, announced late Monday a plan to build 5.18million low-rent units from 2009 to 2011.

The property sector rose 1.94 percent. China Vanke, the largest developer by market value, gained 0.59 percent to 10.22 yuan, while Poly Real Estate jumped 2.88 percent to 23.25 yuan.

The financial sector fell 0.74 percent, as liquidity worries rose on media reports that new loans in May might continue to shrink to between 400 and 500 billion yuan.

China Construction Bank, the country's second largest lender, dropped 0.64 percent to 4.68 yuan, while the Bank of Communications declined 0.96 percent to 7.22 yuan.

Source: Xinhua