Update | Chinese shares finish higher as Shanghai tops 4,000-point mark; Hong Kong ends firmer

Mainland Chinese markets settled higher on Tuesday as steady buying in the afternoon session conspired to lift the market in Shanghai to a close above the 4,000-point level.

The Shanghai Composite Index rose 0.64 per cent to close at 4,017.68. The CSI 300 Index climbed 0.13 per cent to settle at 4,166.01. 

The Shenzhen Composite Index closed at 2,265.10, up 1.56 per cent. ChiNext Index ended at 2,882.90, up 1.22 per cent. 

Hong Kong’s benchmark Hang Seng Index closed up 0.52 per cent or 131.62 points to 25,536.43. The H-share index gained 0.83 per cent or 97.62 points to settle at 11,871.54. 

“There was a lot of sector activity in the morning session but the overall market remained relatively calm, steadily improving. There was some selling pressure, likely by retail investors, when the Shanghai market approached the 4000 level,” said Gerry Alfonso, director at Shenwan Hongyuan Securities.