Chinese shares gain with strong media and Internet sectors

China stocks extended their rally on Tuesday led by gains in media shares and the Internet sector.

The benchmark Shanghai Composite Index rose 0.62 percent to end at 2,956.11 points, while the smaller Shenzhen Component Index advanced 0.61 percent to 11,284.24 points.

The ChiNext Composite Index rebounded by 1.3 percent to 2,181.59 points, and the blue chip CSI300 Index also closed 0.62 percent higher at 4,047.03 points.

Turnover on the two major bourses added up to 620.3 billion yuan (US$87.53 billion), shrinking by 64 billion yuan from the previous session.

Overseas capital continued to flow into the Chinese mainland for the 12th session in a row. On Tuesday, mainland markets saw a net influx of 4.63 billion yuan via the Stock Connect schemes linking Shanghai and Shenzhen with Hong Kong.

Stocks of nearly 70 listed companies soared by over 9 percent, while 13 declined by more than 9 percent.

Culture and media shares were among the biggest gainers, with over 10 companies surging by the daily limit of 10 percent, including Lecron Industrial Development Group Co, Baofeng Group Co and COL Digital Publishing Group Co.

The pharmaceutical sector also led the rises, with Chongqing Taiji Industry Group Co, Zhejiang Jiuzhou Pharmaceutical Co and Shenzhen Hepalink Pharmaceutical Group Co all hitting the 10 percent daily cap.

Brewers, tourism and hotel shares, and stocks related to cloud games also performed strongly.

On the STAR Market, 36 of its 108 companies closed higher, while the rest declined. Hunan Sokan New Materials Co took a bump up by 166.82 percent to be the biggest gainer, while Beijing Bayi Space LCD Technology Co lost the most by 6.82 percent.