Chinese shares declined for the second day on Wednesday, led by banks and property developers on concerns that they would be further pressured by continuing tightening monetary policies.

The benchmark Shanghai Composite Index fell 2.65 percent, or 73.58 points to end at 2,705.87 points.

The Shenzhen Component Index closed at 9,323.38 points, down 325.63 points, or 3.37 percent.

Aggregated turnover on the two bourses totaled 93.87 billion yuan ($13.76 billion).

(Xinhua News Agency July 16, 2008)