BEIJING -- China's benchmark Shanghai Composite Index closed at a near seven-year high on Tuesday, [Hong Kong company registration]rising 1.55 percent to end at 3,502.85 points.

The Shenzhen Component Index went up 1.26 percent to close at 12,169.52 points.

Aviation shares were big gainers due to a sharp drop in global oil prices. Hainan Airlines, Air China, China Eastern Airlines and China Southern Airlines all jumped by the daily limit of 10 percent.

Brokerage firms were strong, with SooChow Securities up 7.47 percent and Shenwan Hongyuan Group closing 7.15 percent higher.

Combined turnover on the two markets expanded to 1.12 trillion yuan ($182 billion), [Hong Kong Company Formation]up from the previous session's 912 billion yuan.