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1st LD-Writethru: Chinese shares retreat on Wednesday

Xinhua, November 2, 2016 Adjust font size:

Chinese shares retreated on Wednesday despite stronger trading as market sentiment returned to caution after recent volatility.

The benchmark Shanghai Composite Index lost 0.63 percent at 3,102.73 points. The smaller Shenzhen Index closed 0.96 percent lower at 10,692.65 points.

China's NASDAQ-style ChiNext Index shed 1.38 percent to finish at 2,146.40 points.

Bucking the bearish indices, total turnover on the two stock exchanges jumped to 544 billion yuan (more than 70 billion U.S. dollars) from 483.8 billion yuan the previous trading day.

The market has been fluctuating since October as investor expectation has mixed with signs of a stabilizing economy and a weakening Chinese currency.

Companies in textile machinery, oil refining and coal mining led the declines, while shares in gold soared abruptly during afternoon trading encouraged by a global gold price spike. Endi