Mainland stock exchanges slide back amid profit-taking

Stock markets in the Chinese mainland declined amid profit-taking on Wednesday, with the Shanghai bourse falling back after six days of upward movement.

The benchmark Shanghai Composite Index dropped on Wednesday by 11.42 points or 0.47 percent, closing at 2,419.25 points.

The Shenzhen Component Index inched down by 8.22 points or 0.10 percent to 8,198.57 points.

Combined turnover on the two bourses on Wednesday was 383.74 billion yuan ($62.73 billion), down from the previous trading day's 429.77 billion yuan.

Shares linked to infrastructure construction, coal and nonferrous metals had gained strongly in the previous trading session, but they fell back as investors took profits on Wednesday.

China Railway Group fell by 4.42 percent to 4.32 yuan and Shanxi Coal International Energy Group Co fell by 4.19 percent to 5.03 yuan.

The brokerage sector was among few bright spots on Wednesday. Sea-land Securities Co soared by the daily limit of 10 percent to 10.96 yuan and Hong Yuan Securities Co rose by 5.72 percent to 14.96 yuan, while the whole sector rose by an average of 1.16 percent.

ChiNext, China's NASDAQ-style board for high-tech and fast-growing start-ups listed in Shenzhen, nudged down by 3.91 points or 0.26 percent to 1,512.49 points on Wednesday.