Chinese shares extend gains on Wednesday

BEIJING - Chinese shares extended gains for a third straight day on Wednesday, with the benchmark Shanghai Composite Index up 0.15 percent, or 3.28 points, to finish at 2,241.27.

The Shenzhen Component Index added 0.45 percent, or 39.00 points, to finish at 8,675.63.

Combined turnover on the two bourses expanded to a record 347.6 billion yuan ($56.43 billion) from 328.88 billion yuan the previous trading day.

Although about 40 stocks rose by their daily limit of 10 percent on Wednesday, lossmakers accounted for more than 60 percent of all listed on Shanghai and Shenzhen.

The motorcycle and textile machinery sectors as well as the coal industry led the rises, up 1.81 percent, 1.51 percent and 1.37 percent, respectively.

China Shipbuilding Industry Company Limited's announced a draft plan for private share placements that total 8.5 billion yuan, sending its stock up 10 percent to end at 4.91 yuan per share.

Bucking the trend, the ChiNext Index, tracking China's Nasdaq-style board of growth enterprises, tumbled 3.39 percent, or 42.88 points, to close at 1,220.70.