Chinese equities closed 0.64 percent higher on Tuesday as the insurance companies and GEM-related (growth enterprise market) stocks went strong following the release of GEM rules in the early hours of the day.

China announced the launch of a long-awaited growth enterprise board on May 1 as a new direct financing platform for innovative companies.

The Shanghai Composite Index gained 15.17 points, or 0.64 percent to 2,373.21. The Shenzhen Component Index rose 71.54 points, or 0.8 percent to 8,981.95.

Gains outnumbered losses by 481 to 368 in Shanghai and 395 to 322 in Shenzhen.

Combined turnover expanded to 200.03 billion yuan (US$29.26 billion) from 191.9 billion yuan on the previous trading day.

(Xinhua News Agency March 31, 2009)