China's stock market saw a V-shaped rebound on Tuesday, lifted by strong performance in software, chips and semiconductor industries during the afternoon session.

The benchmark Shanghai Composite Index once slumped 1.9 percent in the morning, but managed to end up 0.41 percent to close at 2,786.89 points.

The Shenzhen Component Index closed 0.45 percent higher at 9,221.54 points.

Combined turnover stood at 393.9 billion yuan (about 59.2 billion U.S. dollars), up from 357.64 billion yuan the previous trading day.

Software shares posted strong performance, with Yuanguang Software Information Co., Ltd rising 3.56 percent to close at 8.72 yuan.

Liquor makers, food and drinks led the losses on Tuesday. Jiangsu Yanghe Brewery went down 5.92 percent to end at 125.1 yuan per share, while Wuliangye Yibin Co. Ltd. slumped 2.56 percent to 72.38 yuan.

The ChiNext Index, China's NASDAQ-style board of growth enterprises, was up 1.18 percent to close at 1,607.12 points Tuesday.