Chinese equities declined more than 1 percent on Thursday as financial and property sectors continued a weak trend.

The benchmark Shanghai Composite Index on the Shanghai Stock Exchange ended at 2,999.48 points, down 33.8 points, or 1.11 percent.

The Shenzhen Component Index dropped 0.53 percent, or 62.86 points, to close at 11,703.96 points.

Total turnover expanded to 279.83 billion yuan (40.97 billion U.S. dollars) from 271.39 billion yuan on the previous trading day.

Losers outnumbered gainers by 485 to 376 in Shanghai, while gainers outnumbered losers by 497 to 385 in Shenzhen.