Chinese shares close lower Tuesday

BEIJING, July 16 (Xinhua) -- Chinese stocks closed lower Tuesday, with the benchmark Shanghai Composite Index down 0.16 percent, at 2,937.62 points. The Shenzhen Component Index closed 0.28 percent lower at 9,283.41 points. The combined turnover of stocks on the two exchanges stood at 352.44 billion yuan (about 51.29 billion U.S. dollars), shrinking from 422.44 billion yuan in the previous trading day.

Most stocks rose, with gainers outnumbering losers by 736 to 607 on the Shanghai bourse and 1,140 to 879 in Shenzhen. Companies in the sectors of oil industry and instrumentation were among the biggest gainers, with Sino Geophysical Co. Ltd. and Jiangsu Skyray Instrument Co. Ltd. seeing their share prices rise by the daily 10-percent limit to 18.72 yuan and 6.15 yuan per share respectively. Shares related to household appliances led the losses, with shares of Whirlpool (China) Co. Ltd. dropping 3.41 percent to 5.66 yuan apiece. The ChiNext Index, China's NASDAQ-style board, lost 0.14 percent to close at 1,545.27 points.