BEIJING, Feb. 7 (Xinhua) -- China's major stock indices dropped on Wednesday, dragged down by the banking and property sectors.
The benchmark Shanghai Composite Index went down 1.82 percent to finish at 3,309.26, while the smaller Shenzhen Component Index closed 1.26 percent lower at 10,246.97.
Combined turnover on the two bourses stood at 526.5 billion yuan (83.72 billion U.S. dollars), shrinking from 559.6 billion yuan the previous trading day.
The Shanghai SE 50 Index, which tracks actively traded industry leaders, dropped 2.28 percent.
Stocks in the banking, insurance and property sectors led the losses, with China Construction Bank and Ping An Bank losing 5.96 percent and 7.71 percent, respectively.
Poly Real Estate Group Co. saw its share price down 9.37 percent to 16.34 yuan, while shares of the Hainan Yatai Industrial Development Co., slumped to the daily limit of 10 percent.
Shares of liquor makers also lost, with Wuliangye Group down 7.09 percent to 71.02 yuan.
Bucking the trend, shares in the media and cement sectors rose, with Beijing Enlight Media up 7.87 percent to 12.89 yuan. The ChiNext Index, which tracks China's NASDAQ-style board of growth enterprises, gained 1.14 percent to close at 1,616.4 points.
