Financial sector leads stock market decline

Stock markets in the Chinese mainland declined on Wednesday led by banks and insurance companies.

The Shanghai Composite Index inched down by 0.11 percent or 2.48 points to 2,217.47 points on Wednesday.

The Shenzhen Component Index dipped 0.15 percent or 12.26 points to 7,995.50 points.

Combined turnover on the two bourses on Wednesday was 297.79 billion yuan ($48.32 billion), down from the previous trading day's 303.25 billion yuan.

Fall in financial, oil and real estate stocks dragged down the market on Wednesday.

New China Life Insurance Co declined by 1.92 percent to 24.58 yuan and China CITIC Bank Corp fell by 1.99 percent to 4.44 yuan.

Bucking the trend, aerospace companies, nonferrous and steel companies saw a gain on Wednesday. Aluminum Corporation of China Ltd, which soared by the daily limit of 10 percent to 4.07 yuan, led the 7.75 percent gain of the nonferrous sector.

Meanwhile, ChiNext, China's NASDAQ-style board for high-tech and start-ups listed in Shenzhen, continued to rise for a third consecutive day, up by 0.37 percent or 5.05 points to 1,365.74 points on Wednesday.