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Chinese equities closed lower in the morning trading session Thursday than the previous trading day, with the benchmark Shanghai Composite Index down 1.15 percent, or 37.69 points, to finish at 3,228.75.
The Shenzhen Component Index fell 1.52 percent, or 198.73 points, to 12,871.86.
Thursday Shanghai Securities News said that 16 mutual funds had raised more than 50 billion yuan (7.32 billion U.S. dollars) through subscriptions in July, showing heartened investor confidence as the Shanghai Composite Index had gained more than 76 percent as of Wednesday since the beginning of this year.
Chinese shares ended 5 percent lower Wednesday after rebounding from plummeting more than 7 percent in the afternoon trade, as investors cashed in on hefty gains of the past five trading days.
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