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1st LD-Writethru: Chinese shares close higher Tuesday

Xinhua, May 3, 2016 Adjust font size:

Chinese stocks closed higher on Tuesday, with the benchmark Shanghai Composite Index up 1.85 percent, at 2,992.64 points.

The smaller Shenzhen index closed 2.96 percent higher at 10,441.92 points. The ChiNext Index, which tracks China's NASDAQ-style board of growth enterprises, gained 3.67 percent to close at 2,217.23 points.

The shares soon entered losing territory following a higher opening, but they staged a sharp rebound in the morning trade session.

Nearly 2,500 shares, or 87 percent of the total, posted increases. Distilled spirits shares enjoyed the largest gains, followed by household electrical appliances.

Combined turnover on the two bourses rose to 537.5 billion yuan (83.2 billion U.S. dollars) from 366.45 billion yuan the previous trading day.

The Shanghai Composite Index fell below 3,000 points at closing on April 20 and has since stayed under that mark with mild fluctuations. Endi