Chinese shares close higher on Tuesday

Chinese equities rose in active trade on Tuesday, as a report of extended new loans in October lifted optimism for sustained economic growth.

The benchmark Shanghai Composite Index gained 37.58 points, or 1.22 percent, to end at 3,114.23. The Shenzhen Component Index added 144.20 points, or 1.13 percent, to close at 12,859.86.

Combined turnover expanded to 289.94 billion yuan (42.46 billion U.S. dollars), from 254.17 billion yuan on Monday.

The Nasdaq-style ChiNext market for start-up stocks, which began trade last Friday, weakened for a second day after 20 of its28 stocks fell by the daily limit of 10 percent on Monday.

Twenty three of the 28 stocks ended lower on Tuesday, with 19 down by more than five percent and four sliding by their 10 percent daily limit.

Source:Xinhua