Chinese shares slid nearly one percent on Wednesday, extending previous falling and led by weak steel and property stocks.

The benchmark Shanghai Composite Index lost 42.80 points, or 0.99 percent, to close at 4,292.65 points.

The Shenzhen Component Index, which covers both A and B shares, closed at 15,601.21 Wednesday, down 145.02 points, or 0.92 percent, from the previous close.

Combined turnover on the two bourses totaled 173.64 billion yuan (US$24.42 billion).