Chinese stocks close lower on first trading of 2012

BEIJING, Jan. 4 (Xinhua) -- Chinese stocks closed lower on the first trading day of 2012 as investors were uncertain about the market prospects.

The benchmark Shanghai Composite Index dropped 1.37 percent, or 30.03 points, to close at 2,169.39.

The Shenzhen Component Index dived 2.5 percent, or 222.83 points, to finish at 8,695.99.

Combined turnover shrank to 80.89 billion yuan (12.84 billion U.S. dollars) from 83.8 billion yuan the previous trading day.

Losers outnumbered gainers by 843 to 89 in Shanghai, and by 1256 to 110 in Shenzhen.

China's oil producers led the market in the morning session with relatively strong gains, but were unable to reverse the trend as investors are uncertain about the market prospects.

PetroChina rose 0.1 percent to 9.75 yuan, while China Petroleum and Chemical Corp. rose 2.51 percent to 7.36 yuan.

The environmental protection sector lost the most with the sub-index dropping 5.2 percent.

Beijing Capital Co. plummeted 4.62 percent to 4.96 yuan per share, while Beijing Originwater Technology Co. plunged 6.22 percent to 38.9 yuan.

Wine producers were also among the largest losers as the sub-index plunged 4.72 percent.

Kweichow Moutai, a leading Chinese liquor producer, dived 4.15 percent to 185.27 yuan, while Wuliangye Yibin Co. lost 4.39 percent to close at 31.36 yuan.