Chinese shares rose for the second consecutive day Tuesday, led by strong power and materials firms.
 
The benchmark Shanghai Composite Index gained 0.63 percent, or 18.17 points, to hit 2,890.63.
 
The Shenzhen Component Index rose 0.76 percent, or 91.93 points, to end at 12,216.94.
 
Combined turnover expanded to 159.9 billion yuan (24.62 billion U.S. dollars) from 157.13 billion yuan on the previous trading day.
 
Gainers outnumbered losers by 564 to 294 in Shanghai and 779 to 381 in Shenzhen.
 
The power sector continued its strong performance from Monday. Its market-lifting performance has largely been due to reports of severe electricity shortages, which China is predicted to face this summer.
 
Sichuan Mingxing Electric Power Co., Ltd. rose by the daily limit of 10 percent to 20.08 yuan per share. Sichuan Xichang Electric Power Co., Ltd also rose by the daily limit of 10 percent to 15.19 yuan.
 
Materials producers also contributed to market gains after oil and non-ferrous metal prices rebounded. Crude oil for June delivery jumped 5.5 percent to settle at 102.55 U.S. dollars per barrel. The London Metal Exchange Index of six metals, including copper and aluminum, rose 0.4 percent.
 
Shanxi Coking Co., Ltd. jumped by the 10-percent daily limit to 12.80 yuan. Gansu Jingyuan Coal Industry and Electricity Power Co., Ltd. climbed 4.30 percent to 17.94 yuan.
 
China Nonferrous Metal Industry's Foreign Engineering and Constructions Co., Ltd, shot up 7.91 percent to 35.90 yuan, and Jingcheng Copper Co., Ltd, gained 6.07 percent to 19.21 yuan.
 
However, higher oil prices hurt Chinese airlines with Hainan Airlines down 1.04 percent to 8.56 yuan and China Eastern Airlines down 0.64 percent to 6.18 yuan.
 

 

 
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