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1st Ld-Writethru: China stocks close lower Monday

Xinhua, April 25, 2016 Adjust font size:

China's stocks closed lower Monday with the benchmark Shanghai Composite Index down 0.42 percent to finish at 2,946.67 points.

The smaller Shenzhen index closed 0.44 percent lower at 10,106.79 points.

The ChiNext Index of growth enterprises lost 0.47 percent to close at 2,126.83 points.

Combined turnover on the two bourses shrank to 391 billion yuan (63.89 billion U.S. dollars) from 423 billion yuan last Friday.

Shares on securities and telecommunications firms were among the biggest losers. Shanxi Securities Co.,ltd shed 4.71 percent to end at 12.14 yuan per share. China United Network Communications Limited also lost 1.21 percent to end at 4.08 yuan per share.

The market has not shown signs of stabilizing in the near term, and investors are suggested to hold the position and keep the wait-and-see attitude for the time being, said Guo Yiming, an analyst with Jufeng Investment Information. Endi