Update: Chinese shares close higher Tuesday

BEIJING, July 22 (Xinhua) -- Chinese stocks closed higher on Tuesday, with the benchmark Shanghai Composite Index up 0.62 percent to 3,581.86 points.

The Shenzhen Component Index closed 0.84 percent higher at 11,099.83 points.

The combined turnover of these two indices stood at 1.89 trillion yuan (about 264.48 billion U.S. dollars), up from 1.7 trillion yuan the previous trading day.

Stocks related to the Yarlung Zangbo hydropower project, engineering machinery and cement and building materials led the gains, while stocks related to AI application, cross-border payment and the banking sector suffered major losses.

The ChiNext Index, tracking China's Nasdaq-style board of growth enterprises, gained 0.61 percent to close at 2,310.86 points Tuesday. ■