Chinese shares close higher

Beijing, Dec 1 (IANS) Chinese shares continued to rise on Tuesday as stocks related to real estate and environmental protection performed well.

The benchmark Shanghai Composite Index went up 0.32 percent to close at 3,456.31 points. The smaller Shenzhen index gained 0.36 percent to close at 12,081.17 points, Xinhua reported.

Total turnover on the two bourses shrank to 842.8 billion yuan ($131.7 billion) from 984.1 billion yuan on the previous trading day.

The two bourses were in negative territory in the morning but managed to close higher in the afternoon, with almost 60 stocks up by the 10 percent daily limit.

Property developers and construction material producers led the surge. China Vanke Co., Ltd., the country’s real estate giant, jumped by the 10 percent daily limit and hit its highest level since 2008.

Shares related to air pollution control also rose as heavy smog engulfed many parts of China. Zhejiang Feida Environmental Science & Technology Co., Ltd. gained by the daily limit of 10 percent.

Banking and securities stocks saw their share prices lower.

The ChiNext Index, China’s NASDAQ-style board of growth enterprises, dipped 0.64 percent to close at 2,655.35 points.