BEIJING - Chinese stocks closed lower on Wednesday, with the benchmark Shanghai Composite Index down 0.45 percent to 2,962.85 points.

The Shenzhen Component Index closed 0.47 percent lower at 8,835.14 points.

The combined turnover of stocks covered by the two indices stood at 675.1 billion yuan (about $94.66 billion), up from 640.69 billion yuan recorded on the previous trading day.

Stocks related to Chinese liquor and state-owned enterprise reform in Shanghai led the gains, while those in sectors related to high-speed copper cables and millimeter-wave radar reported heavy losses.

The ChiNext Index, tracking China's Nasdaq-style board of growth enterprises, gained 0.01 percent to close at 1,696.45 points on Wednesday.