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1st LD-Writethru: Chinese shares close lower Thursday over mixed economic data

Xinhua, December 8, 2016 Adjust font size:

Chinese stocks closed lower Thursday, with the benchmark Shanghai Composite Index edging down 0.21 percent at 3,215.37 points.

On the fourth day of the Shenzhen-Hong Kong stock link, the smaller Shenzhen index closed 0.40 percent lower at 10,812.3 points.

Turnover on the two exchanges rose to 454.6 billion yuan (66.1 billion U.S. dollars), up from 437.6 billion yuan the previous day.

Stocks related to banking, liquor, equity transfer and graphene were the biggest winners, while shares related to GPS and military businesses lost ground.

Data released Wednesday showed that forex reserves fell by nearly 70 billion dollars in November, the fifth consecutive month, hitting the lowest level in nearly six years, as the yuan saw a record long devaluation streak last month.

However, China's November exports beat market expectations to end previous drops by rising 0.1 percent year on year, while imports expanded 6.7 percent on strong demand for commodities from coal to iron ore.

The ChiNext Index, China's NASDAQ-style board of growth enterprises, lost 0.95 percent to close at 2,114.71 points. Endi