The ChiNext Index, China's start-up board for small and medium-sized enterprises to raise capital, continued to fall on Tuesday.

Five stocks out of 28 rose and the rest fell with 19 stocks down more than 5 percent and four stocks down by the daily limit of 10 percent.

The board, based in Shenzhen and started operation on Oct. 30, 2009, is tailored to the needs of enterprises engaged in independent innovation and other enterprises with great growth potential.