Chinese shares surged more than 2.6 percent on Tuesday, led by petrochemical and telecom shares.

The Composite Stock Index on the Shanghai Stock Exchange closed at 1,072.81 points, up 27.41 points from the previous close, while the Component Stock Index on the Shenzhen Stock Exchange closed at 2,831.56 points, up 72.89 points.

The combined turnover on the Shanghai and Shenzhen stock exchanges reached 18.1 billion yuan, doubling the daily average recently. Some shares surged more than 5 percent.

Li Huajie, an analyst with Homeway securities consulting company, said he believed the leading stock index of Shanghai would soon surpass 1,100 points.

Source: Xinhua