China stocks track losses on external markets

Dragged down by lackluster external markets, Chinese stocks closed lower on Thursday, with the benchmark Shanghai Composite Index down 1.22 percent, or 25.13 points, to 2,030.29.

The Shenzhen Component Index closed at 8,186.06, down 97.5 points, or 1.18 percent.

Combined turnover expanded slightly to 72.99 billion yuan (11.58 billion U.S. dollars) from 72.7 billion yuan the previous trading day.

Losers outnumbered gainers by 890 to 74 in Shanghai and by 1335 to 170 in Shenzhen.

Both the U.S. and European markets witnessed losses overnight due to persistent concerns about the looming fiscal cliff in the United States.

On Wednesday, the Dow Jones Industrial Average lost 185.23 points, or 1.45 percent, to end at 12,570.95. The Standard & Poor's 500 fell 19.04 points, or 1.39 percent, to 1,355.49. The Nasdaq Composite Index declined 37.08 points, or 1.29 percent, to 2,846. 81.

Real estate shares led Thursday's decline, which dived in the late afternoon session. Join In (Holding) Co., Ltd. tumbled 8.36 percent to 9.97 yuan, while CRED Holdings Co., Ltd. declined 5.93 percent to 3.81 yuan.

Shares related to the smart grid also performed poorly, with Guangzhou Zhiguang Electric Co., Ltd. down 6.19 percent to 4.55 yuan. NARI Technology Development Limited Company shed 4.76 percent to 15.41 yuan.

Bucking the trend, shares related to ecological construction continued to gain Thursday after an amendment to the Constitution of the Communist Party of China (CPC), approved on Wednesday, highlighted the need to promote ecological progress.

Fujian Jinsen Forestry Co., Ltd. climbed 6.28 percent to 15.9 yuan, while Guangzhou Devotion Thermal Technology Co., Ltd. was up 2.69 percent to 14.91 yuan.