China stocks close lower on Thursday

Chinese shares closed lower on Thursday despite a rally in the media sector and oil industry during the afternoon session.

The benchmark Shanghai Composite Index shed 0.06 percent, or 1.37 points, to finish at 2,202.80.

The Shenzhen Component Index lost 0.11 percent, or 9.15 points, to finish at 8,400.65.

Combined turnover on the two bourses decreased to 169.16 billion yuan (27.68 billion U.S. dollars) from 190.42 billion yuan on the previous trading day.

The media sector and the oil industry outperformed the broader index, up 3.43 percent and 2.21 percent respectively. Beijing Enlight Media Co., Ltd. and Sino Geophysical Co., Ltd. were among the sectors' biggest profit makers, with both increasing by the maximum of 10 percent.

However, key sectors including the financial and coal industries posted lackluster performances.

The sub-index for the financial sector edged down 0.32 percent. China Life Insurance Company Limited and Everbright Securities Company Limited shed 1.53 percent and 1.01 percent respectively.

The coal sector lost 0.18 percent, with Yunnan Coal & Energy Co., Ltd. leading the decline to close 1.37 percent lower at 8.67 yuan per share.

The ChiNext Index, a Nasdaq-style board tracking China's growth enterprises, surged 2.80 percent to close at 1,279.32 on Thursday.