Chinese shares close 0.09 percent higher

Chinese share prices closed 0.09 percent higher Tuesday as financial issues rebounded in late trade on government calls to accelerate development of the financial service sector, dealers said.

They said the market was in negative territory for most of the day as heavyweight oil firms remained under pressure after regulators dismissed calls for price hikes of oil products.

Shanghai's key stock index rose slightly in the afternoon session today, countering morning losses thanks to a rally among airlines. Shanghai Airlines Co jumped by the 10 percent daily limit after Air China Ltd said it was in talks to buy a stake in the company.

The Shanghai Composite Index, which tracks yuan-denominated A shares and hard-currency B shares, edged up 0.09 percent, or 3.43 points, to 3,629.62 at 3pm.

Gainers in the Shanghai market outnumbered losers 578 to 251, while 23 were unchanged.

The Shenzhen Composite Index, which covers the mainland's smaller stock market, was up 1.35 percent, or 15.31 points, to 1,150.47.

The Shanghai A-share Index was up 3.41 points or 0.09 percent at 3,808.24 on turnover of 77.6 billion yuan. The Shenzhen A-share Index added 15.98 points or 1.34 percent to 1,209.80 on turnover of 36.03 billion yuan.

(Agencies)