Beijing, Dec 29 (IANS): Chinese stocks closed higher on Tuesday with the benchmark Shanghai Composite Index gaining 0.85 percent to close at 3,563.74 points.

The Shenzhen index climbed 0.94 percent to finish at 12,806.16 points, Xinhua reported.

The ChiNext Index, the NASDAQ-style board of growth enterprises, increased 0.52 percent to close at 2,749.82 points.

The Hushen 300 index, which tracks heavyweight stocks in Shanghai and Shenzhen, gained 0.92 percent, or 34.24 points, to close at 3,761.87 points.

The total turnover of the two bourses stood at 659.7 billion yuan ($101.7 billion), down from 897.3 billion yuan the previous trading day.

More than 60 shares on the two exchanges soared by the daily limit of 10 percent, while only one dropped by the daily limit of 10 percent.

Shanghai opened lower in the morning, then fluctuated and climbed into positive territory several times during the day before jumping nearly one percent at close.

Shares related to finance, electrical industry, power-generation equipment and paper were among the biggest winners.

The sub-index for financial heavyweights, which tracks 51 firms, surged 1.54 percent, including Anxin Trust Co. Ltd., which jumped by the daily limit.

CITIC Securities, China's largest brokerage firm, gained 1.28 percent to 19.81 yuan per share.

Dongxing Securities Co. Ltd. increased 4.15 percent to 30.1 yuan.