BEIJING, Aug. 24 (Xinhua) -- Chinese stocks plunged on Wednesday, with the benchmark Shanghai Composite Index down 1.86 percent to 3,215.2 points.

The Shenzhen Component Index closed 2.88 percent lower at 12,096.39 points.

Turnover of stocks covered by the two indices stood at 1.13 trillion yuan (about 195.23 billion U.S. dollars), higher than 1 trillion yuan on the previous trading day.

More than 4,400 stocks suffered losses. Stocks related to the auto industrial chain, semi-conductor and consumer electronics were among the biggest losers.

The ChiNext Index, tracking China's Nasdaq-style board of growth enterprises, lost 3.64 percent to close at 2,679.05 points Wednesday.