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1st LD-Writethru: Chinese shares close lower Wednesday

Xinhua, July 20, 2016 Adjust font size:

Chinese stocks closed lower on Wednesday, after swings in negative territory throughout the day.

The benchmark Shanghai Composite Index went down 0.29 percent to close at 3,027.9 points. The Shenzhen index closed 0.17 percent lower at 10,759.86 points.

The ChiNext Index, which tracks China's NASDAQ-style board of growth enterprises, dipped 0.23 percent to close at 2,268.54 points.

Turnover on the Shanghai and Shenzhen bourses shrank to 505.4 billion yuan (75.43 billion U.S. dollars), down from 516.7 billion yuan the previous trading day.

Gold shares led the declines. Zhongjin Gold Corp., one of the country's leading gold producers, plunged 6.06 percent to close at 14.87 yuan. Zijin Mining Group, China's biggest listed gold producer, slid 1.58 percent to finish at 3.73 yuan.

Textile machinery producers also closed lower, with the index for the the sector down 1.17 percent. China Textile Machinery Co. retreated 3.74 percent to finish at 14.68 yuan. Endi