Update: Chinese shares close higher Wednesday

BEIJING, Dec. 24 (Xinhua) -- Chinese stocks closed higher on Wednesday, with the benchmark Shanghai Composite Index up 0.53 percent to 3,940.95 points.

The Shenzhen Component Index closed 0.88 percent higher at 13,486.42 points.

The combined turnover of these two indices stood at 1.88 trillion yuan (about 266.78 billion U.S. dollars), down from 1.9 trillion yuan on the previous trading day.

Stocks related to commercial space led the gains, while shares in the precious metal, insurance and dairy sectors saw major declines.

The ChiNext Index, tracking China's Nasdaq-style board of growth enterprises, gained 0.77 percent to close at 3,229.58 points Wednesday. ■