Chinese shares extend gains

China's shares continued to rise on Tuesday after hitting a three-year high the day before.

The benchmark Shanghai Composite Index moved up 1.37 percent to finish at 2,567.60 points. The Shenzhen Component Index closed at 8,693.43 points, up 1.35 percent.

Total turnover on the two bourses stood at 532 billion yuan (87 billion U.S. dollars), lower than the previous day's trading of 584 billion yuan.

China's central bank on Tuesday took steps to ease financing pressure on companies, as it lowered the yield for a key short-term money rate, the third time it has done so since August.

Development zone related stocks rallied, with the sub-index tracking the sector leaping 3.52 percent. Shanghai Zhangjiang Hi-tech Park Development and China World Trade Center Co. Ltd. soared by the daily limit of 10 percent.

Gold producing and trading companies were strong. Zhongjin Gold Corporation advanced 9.98 percent to 9.70 yuan per share. Chenzhou Mining Group jumped by the daily trading limit of 10 percent to 9.79 yuan per share.

Robot, high-speed rail and satellite navigation companies also performed well.

The ChiNext Index, a NASDAQ-style board tracking growth enterprises closed 2.26 percent higher at 1,541.92 points. Enditem