Chinese shares closed up 1.44 percent on Tuesday led by coal producers and power companies amid expectations of rising demand for electricity in the months ahead, dealers said. The Shanghai Composite Index, which covers both A and B shares, was up 41.71 points to 2,936.19 on turnover of 88.5 billion yuan (13.0 billion dollars).
The second batch of nine firms seeking to list on the planned Nasdaq-style ChiNext board, which is expected to launch later this month, are taking subscriptions from retail and institutional investors on Tuesday. Energy-related companies led Tuesday's gains. China Petroleum and Chemical rose 1.2 percent to 11.74 yuan and Zhengzhou Coal Industry and Electric Power surged by the ten percent daily limit to 11.61 yuan.
The Shanghai A-share index added 43.79 points, or 1.44 percent, to 3,081.38 on turnover of 88.3 billion yuan, while the Shenzhen A-share index gained 15.38 points, or 1.47 percent, to 1,063.95 on turnover of 49.7 billion yuan. The Shanghai B-share index was down 0.78 points, or 0.39 percent, to 199.61, while the Shenzhen B-share index shed 0.33 points, or 0.06 percent, at 519.67.