Chinese stocks regain key mark above 2,300

BEIJING - Chinese shares extended rallies to the fifth straight trading day to regain a key level above 2,300 points on Tuesday, boosted by small high-tech companies on the ChiNext board.

The benchmark Shanghai Composite Index rose 0.22 percent, or 5.13 points, to end at 2,305.11. The Shenzhen Component Index jumped 1.04 percent, or 96.38 points, to 9,403.54.

The ChiNext Index, which tracks China's NASDAQ-style board of growth enterprises, soared 2.09 percent to a new high of 1,073.58 points in two years, shoring up investor confidence.

Combined turnover on the Shanghai and Shenzhen bourses, however, dipped slightly to 257.60 billion yuan ($41.62 billion) from 278.23 billion yuan the previous trading day.

Media and entertainment companies led Tuesday's rises, with the sub-index for the sector rocketing 4.73 percent. Guangdong Alpha Animation and Culture Co Ltd, Beijing Hualu Baina Film and TV Inc and Zhenjiang Daily Media Group Co Ltd all rose by the daily 10-percent trading limit.

The medical equipment sector surged by 3.2 percent. Zhuhai Hokai Medical Instruments Co Ltd advanced 9.74 percent to 42.47 yuan per share. Aier Eye Hospital Group Co Ltd surged 3.68 percent to 22.81 yuan per share.

Electronic information shares rallied. Insigma Technology Co Ltd, along with another seven companies in the sector, rose by the daily trading limit.

Liquor, petrol and financial shares retreated slightly Tuesday, with sub-indices for the sectors dipping by 0.03, 0.02 and 0.02 percent, respectively.