Chinese shares rebound Tuesday

Stock markets on the Chinese mainland bounced back from previous losses Tuesday as the heavily weighted securities, property and insurance sectors scored big wins.

The Shanghai Composite Index jumped 0.59 percent, or 12.90 points, to close at 2,194.85; while the Shenzhen Component Index ascended 1.36 percent, or 118.98 points, to finish at 8,852.42.

Following significant drops at US markets overnight, the Shanghai benchmark opened lower and fluctuated within a tight range below par for most of the morning session. Rallies in financial and real estate stocks in afternoon trading lifted the index out of its early funk and into an above-even finish for the day.

Stimulated by strong performances among several pillar sectors, Tuesday's combined trading volume at the two exchanges expanded to 123.79 billion yuan ($20.01 billion), up 10 percent over the previous day but still relatively weak compared to typical volumes.

Gold shares continued to lose their luster Tuesday after gold futures for June delivery plummeted 9.3 percent to $1,361 per ounce Monday on New York's COMEX.

Chenzhou Mining Group Co fell 3.28 percent to 15.33 yuan; while Zhongjin Gold Corp gave up 3.25 percent to 12.51 yuan; and Eastern Gold Jade Co decreased 3.07 percent to 19.89 yuan.

Meanwhile, the securities sector posted robust victories. Industrial Securities Co jumped 6.11 percent to 11.98 yuan; while Everbright Securities Co increased 4.11 percent to 13.59 yuan.

Property developers extended Monday's lead on the back of strong sales figures from the first quarter. China Enterprise Co surged 9.92 percent to 5.65 yuan; while Xinhu Zhongbao soared 7.69 percent to 3.64 yuan.