BEIJING, Aug. 2 (Xinhua) -- Chinese stocks closed lower Wednesday due to weakness in small-cap companies.
The benchmark Shanghai Composite Index fell 0.23 percent to 3,285.06. The Shenzhen Component Index closed 0.53 percent lower at 10,469.34.
Combined turnover on the two bourses reached 584.5 billion yuan (about 87.2 billion U.S. dollars).
The ChiNext Index, which tracks China's NASDAQ-style enterprises, lost 0.93 percent to close at 1,724.83.
Analysts say that halfway through the latest corporate earnings reporting season, investors continue to favor main board firms, while shunning small-caps with unclear growth prospects.
According to first-half earnings forecasts and reports already published by listed companies, main board firms recorded strong profit growth, while gains at start-up firms slackened from the first quarter and were seen declining, a Guosen Securities report said.
Sector performance was mixed. Material companies and banking led the rally, while shipbuilding companies slipped 2.54 percent and airplane manufacturers fell 2.35 percent.
Beijing Taikong Panel Industry rose by the daily limit of 10 percent to 12.49 yuan. Yunnan Coal & Energy rose 10 percent to 5.48 yuan.
