Media stocks jump on mixed day for markets

Stock markets on the Chinese mainland had mixed performance on Tuesday.

The Shanghai Composite Index on Tuesday reached a new record high this year, up by 0.26 percent or 5.86 points to 2,245.33 points. Thew Shenzhen Component Index inched down by 0.03 percent or 2.61 points to 8,043.25 points.

Combined turnover on the two bourses on Tuesday was 318.26 billion yuan ($51.84 billion), down from Monday's 325.07 billion yuan.

The media sector gained by 3 percent on Tuesday after President Xi Jinping was reported as saying that the country will build several types of media groups.

Northern United Publishing & Media (Group) Co and Shanghai Xinhua Media Co surged by the daily limit of 10 percent to 8.98 yuan and 10.02 yuan, respectively.

Meanwhile, poor performance of financial and liquor stocks dragged the markets. Guoyuan Securities Co shed 4.67 percent to 13.07 yuan and New China Life Insurance Co declined by 0.89 percent to 24.49 yuan on Tuesday.

ChiNext, China's NASDAQ-style board for high-tech and start-ups listed in Shenzhen, gained by 0.54 percent or 7.66 points to 1,436.40 points.