Chinese shares surge on Tuesday

Chinese stocks closed higher on Tuesday, with the benchmark Shanghai Composite Index up 3.23 percent to 2,789.49 points.

The Shenzhen Component Index closed 6.22 percent higher at 8,460.38 points.

The combined turnover of stocks covered by the two indices totaled 926.3 billion yuan ($130.3 billion), up from 877.4 billion yuan on the previous trading day.

Stocks in the fields of medical treatment and consumption led the gains, while shares related to infrastructure construction, education and the property sectors suffered losses.

The ChiNext Index, tracking China's Nasdaq-style board of growth enterprises, gained 6.71 percent to close at 1,667.45 points.

Earlier Tuesday, Central Huijin Investment Ltd (Central Huijin), a State-owned investment company, said in a statement it fully recognizes the current market allocation value of A-shares, and has increased its investment scope of exchange-traded fund.

The China Securities Regulatory Commission (CSRC), the country's securities regulator, said it will firmly support Central Huijin to intensify its efforts to increase holdings and expand the holdings scale in stock market.

The CSRC said it will continue to coordinate and guide various institutional investors, encourage and support listed companies to increase the intensity of repurchase and holdings, introduce more incremental funds into the A-share market, and spare no effort to safeguard the stable operation of the market.