Chinese shares close lower Wednesday

BEIJING - Chinese shares saw across-the-board declines Wednesday with the benchmark Shanghai index closing at its lowest level in around a year.

The Shanghai Composite Index shed 2.53 percent closing at 3,041.44, marking the sixth consecutive daily fall. The Shenzhen Component Index lost 2.35 percent to close at 10,105.8.

Most of the more than 3,000 companies listed on the two bourses fell, with over 200 down by the 10-percent daily limit. Combined turnover totaled 438.26 billion yuan ($68.26 billion), up from 407.7 billion yuan the previous trading day.

Companies related to electronics and foreign goods trade were among the biggest losers. Bucking the trend, gold producers rallied and the sub-index went up 1.69 percent.

The ChiNext Index, which tracks China's NASDAQ-style enterprises, lost 2.67 percent to close at 1,726.22 points.