BEIJING: Chinese stocks closed lower on Wednesday, with the benchmark Shanghai Composite Index down 0.56 percent, at 2,909.38 points.
The Shenzhen Component Index closed 0.92 percent lower at 8,954.71 points.The combined turnover of stocks in the two indices stood at 513.4 billion yuan (about 74.48 billion U.S. dollars), shrinking from 565.5 billion yuan the previous trading day.
Most stocks fell, with losers outnumbering gainers by 1,012 to 384 on the Shanghai bourse, and 1,450 to 625 in Shenzhen, reports Xinhua.
Companies in communication services and brokerage sectors were among the biggest losers.
The share price of People.cn Co., Ltd. lost 3.42 percent to 18.34 yuan per share, while Citic Securities Co., Ltd., a major Chinese brokerage firm, fell 1.33 percent to 20.81 yuan apiece.
The ChiNext Index, China's NASDAQ-style board of growth enterprises, lost 0.90 percent to close at 1,473.90 points.