1st Ld-Writethru: Chinese shares close mixed Thursday

Chinese stocks closed mixed Thursday as investors took a wait-and-see attitude after Wednesday's rebound.

The benchmark Shanghai Composite Index gained 0.07 percent to finish at 3,139.56 points, while the smaller Shenzhen Component index closed 0.06 percent lower at 10,306.92 points.

Turnover on the two exchanges stood at 397.1 billion yuan (about 57.1 billion U.S. dollars), shrinking from 429.6 billion yuan the previous trading day.

The ChiNext Index, which tracks China's NASDAQ-style enterprises, lost 0.27 percent to close at 1,986.27 points.

Stock indices were lifted by heavyweights related to state-owned enterprise (SOE) reforms. PetroChina, the country's largest oil and gas producer, rose 2.9 percent to 8.16 yuan after its parent company approved guidelines to implement mixed-ownership reforms Wednesday.

Boosted by PetroChina's move, shares of other SOEs reportedly introducing similar reforms also witnessed gains Thursday. Leading telecom company China Unicom surged 4.21 percent to 7.68 yuan, while China Eastern Airlines climbed 4.35 percent to 7.2 yuan.

Stocks related to liquor and paper-making were among the biggest losers. Kweichow Maotai, China's leading liquor maker, dropped 1.05 percent to 325.2 yuan. Shandong Chenming Paper Holding Limited fell 2.25 percent to 10.85 yuan.

Despite the strong impetus injected by SOE shares, the shrinking trading volume and weak performance of the Shenzhen market indicate a strong rebound is unlikely in the short term, analysts said. Endi