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Chinese equities declined for the third consecutive day on Wednesday, led by energy producers as concerns deepened that energy prices would drop further, analysts said.

The Shanghai Composite Index was down 28.22 points, or 1.22 percent, to 2,276.67. In Shenzhen, the market shed 2.17 percent, or 164.81 points, to close at 7,413.55.

Aggregate turnover expanded to 49.1 billion yuan ($7.2 billion) from a 21-month low of 38.9 billion yuan on the previous trading day.

Losses outnumbered gains by 470-376 in Shanghai and 362-355 in Shenzhen.