Chinese stocks close lower Thursday on weak overseas markets

　　BEIJING, Aug.12 (Xinhua) -- Chinese shares dropped more than 1 percent Thursday as coal producers and brokerages fell after overseas markets dipped overnight.

　　The benchmark Shanghai Composite Index closed at 2,575.48 points, down 32.02 points, or 1.23 percent.

　　The Shenzhen Component Index ended at 10,680.02 points, down 126.61 points, or 1.17 percent.

　　Turnover expanded to 191.91 billion yuan (28.3 billion U.S. dollars) from 174.52 billion yuan the previous trading day.

　　Losers outnumbered gainers 686 to 186 in Shanghai and 790 to 225 in Shenzhen.

　　Overnight losses on Wall Street and other foreign markets dampened Chinese investment sentiment. Major U.S. stock market indexes sunk more than 2 percent Wednesday.

　　Coal producers and securities firms led the declines, and the sectors tumbling 2.05 percent and 2.11 percent, respectively.

　　China Shenhua Energy Co., the nation's largest coal producer, retreated 2.43 percent to 22.45 yuan.

　　The property sector rallied in early trade but profit taking set in and by the close the sector was up only 0.06 percent.

　　China Vanke Ltd., the country's biggest developer, climbed 1.68 percent to 8.46 yuan while Poly Real Estate Group dipped 0.16 percent to 12.56 yuan per share.