Chinese shares down for 3rd straight day

Chinese shares closed lower for a third straight day on Thursday, despite rises in the environmental protection sector following a newly-issued decree on urban drainage and sewage treatment.

The benchmark Shanghai Composite Index dropped 0.21 percent, or 4.53 points, to finish at 2,188.54. The Shenzhen Component Index lost 0.25 percent, or 21.67 points, to finish at 8,521.20.

Combined turnover on the two bourses shrank to 237.22 billion yuan (38.62 billion U.S. dollars) from 278.5 billion yuan the previous trading day.

Chinese Premier Li Keqiang has signed a decree stipulating that local governments must include the building and management of urban drainage and sewage treatment facilities into development plans.The environmental protection sector surged 3.74 percent over the news, with Chengdu Xingrong Investment Co., Ltd., a company engaged in sewage treatment, limit up.

The ceramic industry and the sector concerning development zones dragged down the broader index, diving 2.78 percent and 2.34 percent, respectively.

Media and entertainment, with many companies listed on China's NASDAQ-style board of growth enterprises, was also down 1.70 percent.

The Ministry of Commerce said on Thursday that foreign direct investment inflows into the Chinese mainland climbed 4.88 percent in September from a year ago.

The National Bureau of Statistics is scheduled to release GDP data for the third quarter on Friday.