Chinese shares close down 2.83% Tuesday

Chinese equities closed down 2.83 percent on Tuesday.

The benchmark Shanghai Composite Index lost 88.11 points, or 2.83percent, to end at 3,021.46.

The Shenzhen Component Index dropped 402.81 points, or 3.14 percent, to close at 12,412.45.

Combined turnover shrank to 158.30 billion yuan ($23.18 billion) from 218.72 billion yuan on the previous trading day.

Source: BizChina