Chinese stocks close higher thanks to sustained economic recovery

Chinese stocks closed higher on Tuesday due to sustained economic recovery.

China's blue-chip CSI300 index rose 0.5 percent to 4,603.94 by the midday break. The Shanghai Composite Index was also up 0.5 percent at 3,234.39

The combined turnover of the two bourses expanded slightly to 545 billion yuan (about $79.95 billion) from 540.3 billion yuan the previous trading day.

Gainers outnumbered losers by 890 to 465 on the Shanghai bourse, and by 1,565 to 607 on Shenzhen.

Tech shares led market gains in China, with Shanghai's Nasdaq-style STAR Market jumping nearly 4 percent. 

Companies in coal mining and automobile sectors led the losses.

The ChiNext Index, China's NASDAQ-style board of growth enterprises, gained 1.67 percent to close at 2,563.38 points.

Shares in Hong Kong, however, gave up early gains. The benchmark Hang Seng index dropped 0.3 percent to 23,418.23, while the Hong Kong China Enterprises Index lost 0.4 percent to 9,342.96.

Latest data showed that profits of China's industrial firms surged 19.1 percent year on year in August. 

(Cover via CFP)

(With input from agencies)