1st LD-Writethru: Chinese shares close mixed Wednesday

Chinese stocks closed mixed on Wednesday, with the benchmark Shanghai Composite Index up 0.14 percent at 3,113.01 points.

The smaller Shenzhen index closed 0.22 percent lower at 9,804.76 points.

The ChiNext Index, which tracks China's NASDAQ-style board of growth enterprises, lost 1.18 percent to close at 1,845.79 points.

Turnover on the two exchanges shrank to 316.69 billion yuan (about 46.23 billion U.S. dollars) from Tuesday's 355.6 billion yuan, as concerns over increased initial public offering (IPO) approvals continued to weigh on the market.

Chinese regulators on Friday approved 10 IPO applications, causing investor fear of more equity supply due to an increase in approvals for IPOs.

Since an IPO suspension between July and November 2015, the country's securities regulator has progressively sought to normalize IPOs. In 2016, 227 companies went public, raising total funds of 147.6 billion yuan.

The normalization of IPOs in China could help raise the financing efficiency of companies and direct more capital into the real economy, experts have said.

Wine makers led the gain with a 1.3-percent increase, while the glass industry suffered the biggest loss of 1.34 percent.

Xinjiang Yilite Industry Co., Ltd. rose 3.37 percent to 16.26 yuan. Jiangsu Xiuqiang Glasswork Co., Ltd. lost 3.96 percent to 10.67 yuan. Endi