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BEIJING, June 12 -- China's key stock index rose 1.91 percent on Tuesday, rising for the sixth consecutive trading session after plunging 8.26 percent on Monday 4 June.
The benchmark Shanghai Composite Index, which covers both A- and B-shares listed on the Shanghai Stock Exchange, climbed 76.46 points to close at 4,072.14 on turnover of 208.0 billion yuan (27.2 billion U.S. dollars). The index traded between 3,910.00 and 4,073.18.
The Shenzhen Component Index on the nation's smaller bourse was up 2.97 percent, or 392.01 points to finish at 13,579.72 on turnover of 115.1 billion yuan (15.1 billion dollars).
The Hushen 300 Index reflecting the fluctuation of China's two stock exchanges closed at 4,036.11 points, up 104.25 points or 2.65 percent.
Despite the recovery, the key Shanghai index was still 6.5 percent down on its record of 4,334.92 points set on May 29. The index plunged sharply after China tripled stamp tax on share trading to cool the overheated stock markets on May 30.
The gain came despite concerns over possible interest rate hikes after China's consumer price index rose 3.4 percent in May compared with the same month last year.
Zhou Xiaochuan, governor of the People's Bank of China (PBoC), said on June 6 that the bank would not rule out the possibility of adopting an arsenal of monetary tools to keep inflation at bay.
Some analysts, however, said the inflation rate was acceptable for PBoC even it exceeded the government target of three percent for the whole year.
Chen Jijun, an analyst at Citic Securities, said the interest rate rises would offer little help in curbing inflation as it was mainly caused by tight supply of some commodities.
Prices of meat and poultry surged 26.5 percent in May compared with a year ago, and eggs soared 37.1 percent, the National Bureau of Statistics said on Tuesday.
A total 1,057 out of the 1,400 stocks listed on the two exchanges rose, and more than 120 stocks jumped by the daily limit of 10 percent.
Shares of power, coal, and property led the index rise. Huaneng Power International climbed 9.98 percent to 13.44 yuan and Shanghai Shimao rose by the daily limit of 10 percent to 23.66 yuan.
Blue chips turned in a mixed performance. Bank of China lost 0.19 percent to 5.20 yuan and Bank of Communications slumped 1.39 percent to 12.02 yuan.
China Petroleum and Chemical Corporation, better known as Sinopec, rose 1.14 percent to 15.11 yuan, and Daqin Railway jumped 9.38 percent to 16.21 yuan.
Xinhua | 
