The ChiNext Index, launched by the Shenzhen Stock Exchange (SSE) on June 1, fell 3.99 percent, or 41.12 points, to close at 990.10 on Wednesday.

The index, together with the Shenzhen Component Index and the Shenzhen SME (small and medium-sized enterprises) Board Index, makes up the three core indices reflecting the performance of China's stocks listed on the exchange.

The ChiNext Board, which started trading on Oct. 30, 2009, is a Nasdaq-style growth enterprises board, and mainly lists high-tech companies and those with high growth potential.