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1st Ld-Writethru: Chinese shares close lower Thursday

Xinhua, April 21, 2016 Adjust font size:

China's stocks closed lower on Thursday, following a 2.31-percent fall the previous day.

The benchmark Shanghai Composite Index ended the day down 0.66 percent, at 2,952.89 points, while the Shenzhen index closed 1.04 percent lower at 10,058.8 points.

Combined turnover on the two bourses shrank to 542 billion yuan (83.6 billion U.S. dollars) from 800.6 billion yuan on Wednesday.

Electronic information and cement industries were among those with the heaviest losses. Fiberhome Telecommunication Technologies fell 2.23 percent to 24.09 yuan per share. Anhui Conch Cement fell 2.31 percent to 16.91 yuan.

Despite the two-day losing streak, investment bank China International Capital Corp.(CICC) holds that "continued and significant decline is unlikely following the fast retreat."

The ChiNext Index, China's NASDAQ-style board of growth enterprises, lost 1.64 percent to close at 2,110.16 points. Endi