Chinese shares close higher Tuesday

Chinese shares closed higher on Tuesday, with the benchmark Shanghai Composite Index hitting a new high for the month.

The benchmark Shanghai Composite Index gained 1.23 percent, or 28.24 points, to end at 2,321.32. The Shenzhen Component Index rose 1.96 percent, or 181.06 points, to 9,441.69.

Combined turnover on the Shanghai and Shenzhen bourses expanded to 250.05 billion yuan (40.46 billion U.S.dollars) from 223.97 billion yuan the previous trading day.

The real estate sector led Tuesday's rises, with the sub-index for the sector up 2.92 percent. Vanke, China's largest real estate developer, increased 4.75 percent to 12.36 yuan.

The financial industry surged 2.76 percent. The Industrial and Commercial Bank of China, the country's biggest lender by market value, rose 1.45 percent to close at 4.19 yuan per share.

The media and entertainment sector was the biggest loser on Tuesday, with its sub-index down 3.78 percent. Huayi Brothers Co. plummeted 6.55 percent to 28.81 yuan per share.

The ChiNext Index, which tracks China's NASDAQ-style board for growth enterprises, plunged 2.82 percent.