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1st LD-Writethru: China stocks close lower on Thursday

Xinhua, January 8, 2015 Adjust font size:

Chinese shares closed lower on Thursday, reversing gains over the previous three trading days.

The benchmark Shanghai Composite Index fell 2.39 percent to 3,293.46 points, while the Shenzhen Component Index closed at 11,465.14 points, down 1.28 percent.

Total turnover on the two bourses shrank to 638.2 billion yuan (104.11 billion U.S. dollars) from 682.67 billion yuan on the previous trading day.

In the A-share market, losers outnumbered gainers by 624 to 270 in Shanghai, and by 753 to 625 in Shenzhen.

Banks and securities firms fell across the board on Thursday in an adjustment following previous strong rallies. Bank of China fell 4.63 percent to 4.33 yuan per share. Agricultural Bank of China also fell 4.11 percent. CITIC Securities fell nearly 2.5 percent.

Bucking the trend, nuclear power-related stocks led gains on Thursday on reports that China is likely to break the technological monopoly by foreign firms after the country made a key technological breakthrough in control rod driving systems at a domestic nuclear power station. Shanghai Electric Group Company Ltd. rose 3.66 percent to 9.9 yuan per share.

The ChiNext Index, which tracks China's Nasdaq-style board of growth enterprises, rose 1.21 percent to 1,541.89 points on Thursday. Endi