One can reasonably interpret the PBOC's reticence on the bull market as a quiet confidence that Chinese shares are not in a bubble," Bernard Aw, IG's market strategist, said in a note released on Tuesday. China Everbright Bank was among the most actively-traded shares following news that it has secured regulatory approval to issue domestic preference shares in a private placement. Read More Chinese ferry with 458 aboard sinks in storm Meanwhile, Hong Kong's index sagged nearly half a percent.