Chinese share prices ended the morning session sharply lower on Tuesday as the benchmark Shanghai Composite Index fell 4.89 percent to 2,891.91 points.

The index, which covers both A- and B-shares, opened at 3,048.83 points, up 8.23 points from Monday's record closing of 3,040.60 points.

Shares of heavyweights fell sharply. The Industrial and Commercial Bank of China lost 3.53 percent to 4.92 yuan, the Bank of China shed 3.41 percent to 4.81 yuan, and the Shanghai Pudong Development Bank was down 8.08 percent to 22.30 yuan.

China Life, the country's biggest life insurer, fell 4.70 percent to 35.50 yuan.

China Petroleum and Chemical Corporation, known as Sinopec, lost 7.99 percent to 9.10 yuan after crude oil price rose on Monday on higher heating oil demand boosted by winter storm in the United States.

Light sweet crude for April delivery added 25 cents to 61.39 U. S. dollars on the New York Mercantile Exchange on Monday, the highest close since Dec. 22.

Source: Xinhua