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Chinese shares experienced a mixed close on Tuesday due to weakened market heavyweights and overnight declines in external markets, with the benchmark Shanghai Composite Index up 0.04 percent, or 1.05 points, to end at 2,529.76.

The Shenzhen Component Index dropped 0.59 percent, or 62.68 points, to finish at 10,583.

Combined turnover shrank to 165.6 billion yuan (26.12 billion U.S. dollars) from 172.8 billion yuan the previous trading day.

Gainers outnumbered losers by 608 to 291 in Shanghai, and 784 to 504 in Shenzhen.

U.S. stocks fell on Monday, as weak industrial data from Europe coupled with the ongoing debt crisis caused recession fears. The Dow Jones industrial average dropped 74.70 points, or 0.61 percent, to 12,078.98.

Banking heavyweights dropped Tuesday following news that Bank of America will sell most of its remaining shares in China Construction Bank(CCB) this month to bolster its capital base.

CCB shares declined 0.41 percent to 4.84 yuan per share on Tuesday. China Minsheng Banking Corp. Ltd. dropped 1.31 percent to 6.03 yuan, while Huaxia Bank Co., Ltd. was down 1.18 percent to 10.9 yuan.

Securities brokers also fell by more than 1 percent, with Haitong Securities down 2.08 percent to 8.95 yuan. Industrial Securities dropped 2.4 percent to 12.21 yuan.

Media and entertainment companies reported large gains, with Guangdong Alpha Animation and Culture Co., Ltd. up 9.99 percent to 24.78 yuan, and Time Publishing and Media Co., Ltd. rising 6.02 percent 14.8 yuan by close.

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