Chinese shares close lower on final day of 2015

BEIJING -- China's stocks closed lower on Thursday as investors were cautious over the impending end of a six-month ban on share sales.

The benchmark Shanghai Composite Index went down 0.94 percent to close at 3,529.18 points. The smaller Shenzhen index lost 1.75 percent to close at 12,664.89 points.

The ChiNext Index, China's NASDAQ-style board of growth enterprises, dropped 2.36 percent to close at 2,714.05 points.

Total turnover on the two bourses remained low, standing at 686.6 billion yuan ($105.79 billion), down from 723.3 billion yuan the previous trading day.

Early next month a six-month ban on share sales, which was imposed on listed companies' major shareholders during the stock market rout this summer, will be lifted.

Telecommunication firms led the drop, erasing the gains of the previous trading day. Datang Telecom Technology shrank 6 percent to 24.67 yuan per share. China United Network Communications dropped 2.22 percent to 6.18 yuan.