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Chinese stocks close lower Thursday

Source: Xinhua| 2018-06-07 17:04:25|Editor: Liangyu
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BEIJING, June 7 (Xinhua) -- Chinese shares closed lower Thursday despite a rebound by financial heavyweights, while trading remained thin.

The benchmark Shanghai Composite Index edged down 0.18 percent to end at 3,109.5 points while the Shenzhen Component Index closed 0.49 percent lower at 10,313.85 points.

Combined turnover stood at 360.1 billion U.S. dollars (56.33 billion U.S. dollars), almost unchanged from the previous day.

Medical shares suffered after days of market-beating performance. Jiangsu Yuyue Medical Equipment and Supply Company saw its shares plunge 2.57 percent.

Large-cap financial stocks were among the biggest winners, with shares of securities and insurance companies rising across the board.

Ping An Insurance, a major insurer with market capitalization of over one trillion yuan, ended 1 percent higher.

Cyclical industries including steel and coal also gained. Baoshan Iron and Steel Company, for example, saw its shares jump 3.26 percent.

The ChiNext Index, which tracks China's NASDAQ-style board of growth enterprises, fell 0.74 percent to close at 1,730.38 points Thursday.

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