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1st Ld-Writethru: Chinese stocks fall after previous day's rally

Xinhua, June 16, 2016 Adjust font size:

Chinese stocks closed lower Thursday, after the previous day's rally and following the decisions of U.S. Federal Reserve and Japan's central bank to leave interest rates unchanged.

The benchmark Shanghai Composite Index was down 0.50 percent to 2,872.82 points, after Wednesday's 1.6-percent bounce. The smaller Shenzhen index dropped 0.58 percent to close at 10,115.12 points.

Combined turnover on the two bourses expanded to 593.9 billion yuan (about 90 billion U.S. dollars) from the previous day's 573.07 billion yuan.

The ChiNext Index, China's NASDAQ-style board of growth enterprises, lost 1.29 percent to close at 2,101.42 points.x Most sectors, including financial and environmental protection, fell.

Resources shares climbed, however, as the central government vowed to better control new production capacity and reduce overcapacity in the non-ferrous metals sector.

Shares in Asia were broadly lower Thursday, after Bank of Japan decided to stay put on its monetary policy despite the yen's spike.

The 225-issue Nikkei Stock Average plunged 3.05 percent to 15,434.14 points, marking its second-lowest level this year. Hong Kong's Hang Seng Index sank 2.1 percent to 20,038.42 points.

Overnight, the Dow Jones Industrial Average fell 34.65 points, or 0.20 percent, to 17,640.17. The S&P 500 lost 3.82 points, or 0.18 percent, to 2,071.50. The NASDAQ Composite Index decreased 8.62 points, or 0.18 percent, to 4,834.93. Endi