Chinese equities falter amid weakened turnover

Shares in China slid on Wednesday, despite gains among securities and coal firms.

At the close of market hours, the benchmark Shanghai Composite Index edged down 0.41 percent to 3,008.81 points, while the Shenzhen Component Index shed 1.12 percent to 9,853.72 points, and the blue chip CSI300 index dropped 0.74 percent to 3,929.79 points.

Turnover on the two major bourses totaled 506 billion yuan (US$71.06), compared with 696 billion yuan in the previous trading session.

Shares of coal firms and securities led the gains. Shares of Liaoning Hongyang Energy Investment Co Ltd and Shanxi Meijin Energy Co Ltd hit the daily cap.

The shipbuilding, communications and liquor industries suffered the day's biggest declines.

On the new STAR Market, only eight firms gained while 21 companies lost. The biggest percentage gainer was Espressif Systems. Its share price rose 5.89 percent to 166.99 yuan.