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1st LD-Writethru: Chinese shares close lower Tuesday

Xinhua, December 6, 2016 Adjust font size:

Chinese stocks closed lower on Tuesday, with the benchmark Shanghai Composite Index down 0.16 percent, at 3,199.65 points.

On the second day of the Shenzhen-Hong Kong stock link, Shenzhen-listed shares edged down 0.04 percent close at 10,779.77 points.

Turnover on the two bourses shrank to 420 billion yuan (around 61.25 billion U.S. dollars), up from 511 billion yuan the previous trading day.

Shares in steel, military and state-owned companies were the biggest losers, while equity transfer and petroleum made gains.

Gree Electric Appliances rebounded 1.7 percent following the previous day's 10 percent slump due to the regulator's criticism of speculative stake buyouts.

The ChiNext Index, which tracks China's NASDAQ-style board of growth enterprises, lost 1.01 percent to close at 2,122.26 points.

Leshi Internet Information & Technology Corp, a barometer of the ChiNext, plunged by 7.85 percent on Tuesday amid concerns of cash crunch.

Analysts pointed out that the opening of the Shenzhen-Hong Kong Stock Connect made market sentiment more rational, which led to a correction of the ChiNext Index. Enditem