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1st LD-Writethru: Chinese shares close higher Tuesday

Xinhua, July 26, 2016 Adjust font size:

Chinese stocks closed higher on Tuesday, with the benchmark Shanghai Composite Index up 1.14 percent at 3,050.17 points.

The smaller Shenzhen index closed 1.25 percent higher at 10,852.21 points.

The ChiNext Index, which tracks China's NASDAQ-style board of growth enterprises, gained 1.5 percent to close at 2,279.55 points.

Combined turnover on the Shanghai and Shenzhen bourses stood at 485.2 billion yuan (73.5 billion U.S. dollars), down from 491.7 billion yuan the previous trading day.

Banking and brokerage shares rallied, and more than 2,000 shares on the two bourses closed in positive territory.

The Economic Information Daily reported on Tuesday that the performance sheets of Chinese companies revealed an encouraging landscape on reform efforts despite a slowdown in the country's economy.

As of Monday, 1,796 listed companies had released their preliminary half-year results, with 63 percent of them reporting net profit growth, and 449 saw profits rise by at least 50 percent, the newspaper reported. Endi