Chinese shares close lower Wednesday

Chinese shares closed lower Wednesday dragged down by the bio-pharmaceutical sector and small enterprises with growth potential.

The benchmark Shanghai Composite Index edged down 0.11 percent, or 2.27 points, to end at 2,101.30. The Shenzhen Component Index lost 0.99 percent, or 82.39 points, to finish at 8,259.38.

Combined turnover on the two bourses rose to 263.6 billion yuan (42.7 billion U.S. dollars) from 216.7 billion yuan the previous trading day.

Some 200 stocks declined more than 4 percent whereas a total of 41 rose by their daily cap of 10 percent.

The bio-pharmaceutical sector led the declines with its sub-index down 2.26 percent. Kangmei Pharmaceutical Co., Ltd., based in south China's Guangdong Province, tumbled 10 percent to close at 19.33 yuan per share.

The ChiNext Index, tracking China's Nasdaq-style board of growth enterprises, reversed its seven-day rising streak to close 1.82 percent lower at 1,227.99 points.

Bucking the trend, aircraft manufacturers and shipbuilders posted substantial gains during trading, advancing 5.42 percent and 2.99 percent respectively.

Shanghai-based companies closely related to foreign trade and logistics continued to be lifted by market optimism over a pilot free trade zone to be built in the metropolis, with six stocks ending 10 percent higher.