China's A-share market rallied on Tuesday despite an astonishing overseas sell-off overnight, an indication that A-share assets could remain resilient amid a turbulent global financial market, according to Chinese and foreign analysts.

The key Shanghai Composite Index went up by 1.82 percent to close at 2,996.76 points on Tuesday, while the smaller Shenzhen index jumped by 2.65 percent to close at 11,403.47 points. A total of 3,137 A shares ended higher, versus 586 which were lower.

This upbeat mood contrasted sharply with a sell-off seen in the United States and Europe on Monday, when concerns surrounding the fall in oil prices hit investor sentiment that was already rattled by the spreading novel coronavirus.

The Dow Jones Average registered the biggest single-day point loss in history of 2,013.76 points, or 7.79 percent, to close at 23,851.02 points on Monday, while London's FTSE 100 and France's CAC 40 both shed around 8 percent.

"Tuesday's strong performance of the A-share market shows that it could provide a shelter for global capital amid the current market turmoil," said Dong Dengxin, director of the Finance and Securities Institute at Wuhan University of Science and Technology.

Net foreign capital worth 3.1 billion yuan ($446 million) flowed into mainland markets via stock connects with Hong Kong on Tuesday, according to market tracker Wind Info.

"There is confidence that with operations gradually returning to work, the worst of the virus (for China) is over when it comes to the day-to-day economy," said Jameel Ahmad, global head of currency strategy and market research at global foreign exchange broker FXTM.

Looking ahead, analysts foresee further corrections on Wall Street, as the double blows of the coronavirus outbreak and the oil price plunge are fueling concerns over economic recession and asset price bubbles bursting.

A-share assets could also feel the pressure of the global investors' risk-averse attitude and the transmission of liquidity risks, according to Xue Yi, a professor of finance at the University of International Business and Economics in Beijing.

But the impacts should be limited as the overall low market valuation can shield the risk of a market crash, while the rather ample room for monetary policy measures will help the economy withstand a potential global economic recession, Xue said.

Also, the A-share market has the potential of attracting more global capital cashing out from dropping overseas stocks and seeking new investment opportunities, Xue added.

Ren Zeping, chief economist of Chinese property developer Evergrande, said the global coronavirus outbreak and low oil price should only have short-lived pressure on the A-share market, as the Chinese economy gradually returns to a normal development track.

Recent policy efforts to ramp up infrastructure investment by addressing weak links in transport networks and promoting technological upgrading will bolster both the economy and the market, he said.

After potential short-term fluctuations due to the global spread of the virus and domestic economic data that could disappoint the market, the A-share market should kick off the third uptrend in the bull run that started in early 2019, said Xun Yugen, chief strategist with Haitong Securities.

Key ingredients of the mid-term positive market prospects are the still low valuation that provides room for growth, the recovery in corporate earnings growth, and the trend of residents' wealth funneling into the stock market as the authorities promote supply-side reforms of the financial sector, Xun said in a report.

In the latest development of the financial reforms, the Ministry of Finance announced on Monday it would adjust the allocation of State-owned financial capital in the banking, securities and insurance sectors so that more of this capital can be directed into key financial infrastructure.