Chinese stocks recover from previous day's nosedive

Chinese stocks rebounded on Tuesday morning from the previous day's slump, with overseas capital continuing to pour into mainland markets.

The benchmark Shanghai Composite Index added 0.21 percent to close morning trading at 2,752.44 points, while the smaller Shenzhen Component Index jumped 1.74 percent to 9,949.95 points. The ChiNext Composite Index, meanwhile, posted a sharp gain of 3.69 percent to reach 1,862 points, and the blue chip CSI300 index was up 1.34 percent to 3,737.71 points.

Mainland markets continued to see an inflow of foreign capital, with the net influx via Stock Connect schemes linking the mainland to Hong Kong reaching nearly 6 billion yuan (US$857 million) in the morning session. Of the total, 1.1 billion yuan flowed in via the Shanghai-Hong Kong Stock Connect, while 4.8 billion yuan cramming into Shenzhen.

By sector, pharmaceutical shares, household appliance firms, electric equipment companies and building material stocks all performed well.