Chinese equities slumped Thursday with the benchmark Shanghai Composite Index down 50.04 points, or 1.89 percent, to close at 2,602.47.

The Shenzhen Component Index dropped 248.08 points, or 2.17 percent, to end at 11,164.02.

Combined turnover stood at 243.77 billion yuan (36.33 billion U.S. dollars), down from 261.39 billion yuan on the previous trading day.

Losers outnumbered gainers by 752 to 123 in Shanghai and 895 to 159 in Shenzhen.