Shares up in volatile trading

Stock markets on the Chinese mainland closed out a choppy session with modest gains Tuesday as investors searched for direction after the previous day's run-up.

The Shanghai Composite Index advanced 0.23 percent, or 4.87 points, to 2,106.16; while the Shenzhen Component Index added 5.92 points, or 0.07 percent to 8,362.65.

Combined turnover of the two exchanges settled at 203.2 billion yuan ($33.19 billion). down from Monday's 238.86 billion yuan.

Components in the cement, steel and rail construction sectors were boosted after the 21st Century Business Herald reported that several local governments are preparing to fast-track rail, urban infrastructure and urban revitalization projects. Shanghai Tunnel Engineering Co went up 3.37 percent to 8.59 yuan. Anhui Conch Cement Company Limited climbed 3.09 percent to 26.65 yuan. Angang Steel Company Limited edged up 3.57 percent to 3.19 yuan.

Internet stocks jumped Tuesday as a major industry conference got underway. Representatives from several of China's leading IT firms are scheduled to meet with researchers and officials at the event to discuss the development of the domestic Internet sector, according to local media reports. Leshi Internet Information and Technology Corp climbed by the 10 percent daily limit to close at 29.33 yuan Tuesday. Xiamen 35.com Technology Co went up 5.31 percent to 9.92 yuan.

In individual equities, Industrial Bank Co rose 4.45 percent to 10.32 yuan Tuesday after its first-half financial report showed net profits increasing 26.5 percent year-on-year to 21.6 billion yuan.

Meanwhile, Shanghai Laofengxiang Co rose 6.02 percent to 18.49 yuan Tuesday even though the National Development and Reform Commission announced that it and four other local jewelry retailers would be fined a total of 10.09 million yuan for price-fixing. Among the five jewelry sellers hit by authorities, Laofengxiang is the only with a public listing.

By sector, tourism, food and beverage, nonferrous metal and coal shares were among Tuesday's biggest laggards. Yunnan Tourism Co declined 1.15 percent to 8.61 yuan.