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1st Ld-Writethru: Chinese shares close lower Tuesday

Xinhua, May 17, 2016 Adjust font size:

Chinese stocks closed lower on Tuesday, as market sentiment remained dour after heavy losses in the previous week.

After dropping 2.96 percent last week, the benchmark Shanghai Composite Index at one point rebounded by 0.3 percent in the afternoon session, but quickly gave up the gains and ended the day down 0.25 percent, at 2,843.68 points.

The smaller Shenzhen index closed 0.01 percent lower at 9,908.79 points.

Total turnover expanded to 430.9 billion yuan (66.1 billion U.S. dollars) from 360 billion yuan the previous day.

Stocks related to pork production were among the biggest losers. Muyuan Foods Co. Ltd. lost 4.91 percent to end at 56 yuan per share.

Bucking the trend, the healthcare sector performed well on Tuesday. Andon Health Co. Ltd. and YLZ Information Technology Co. Ltd. both surged by the daily limit of 10 percent. Guangzhou Boji Medical & Biotechnological Co. Ltd. also gained 6.93 percent to end at 39.65 yuan per share.

The ChiNext Index, which tracks China's NASDAQ-style board of growth enterprises, gained 1.15 percent to close at 2,081.44 points. Endi