Chinese shares make U-turn, closing 1.57% higher

BEIJING, April 15 (Xinhua) -- China's benchmark stock index closed 1.57 percent higher on Tuesday, as shares managed to make a U-turn on bargain hunting in late afternoon trading.

The key Shanghai Composite Index gained 51.68 points to finish at 3,348.35. It fell as much as 2.57 percent at one point to 3,212.15 in the morning, the lowest level in more than a year.

The index plunged 5.62 percent to 3,296.67 on Monday, the biggest one-day loss since late January, amid sell-offs on regional markets and tightening fears.

The Shenzhen Component Index edged up 47.19 points, or 0.38 percent, to 12,390.79. It tumbled 7.39 percent to 12,343.61 on Monday, the biggest one-day percentage loss since June 4.