Chinese stocks rose to a record high close for a seventh straight session on Tuesday, as blue chips surged on strong earnings expectations. The yuan rose against the U.S. dollar.

"Strong earnings forecasts from blue-chip companies are boosting overall sentiment and blue chips will remain strong on hopes the regulators will soon launch the stock index futures," said Chen Huiqin, an analyst at Huatai Securities.

Baoshan Iron & Steel rose 4.2 percent to 10.99 yuan after the company said its first-quarter net profit jumped more than 150 percent from the same period last year according to preliminary calculations.

China Petroleum & Chemical Corp. gained 2.0 percent to 10.57 yuan after the company forecast that its first-quarter net profit has risen by more than 50 percent year-on-year.

"The rising volume shows that investors are holding mixed views on the near term outlook after key indexes hit record highs repeatedly," said Zhu Haibin, an analyst at Everbright Securities.

China Life Insurance fell 1.5 percent to 36.44 yuan as 300 million shares sold to institutional investors started trading Tuesday after a three-month lockup period.

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