(Yicai Global) Aug. 28 -- Chinese stock markets closed lower today, with securities and insurance shares leading the decline.

The Shanghai Composite Index closed at 2,893.76, down 0.29 percent. The Shenzhen Component Index fell 0.31 percent to 9,414.00, and the ChiNext Price Index, which tracks growth enterprises listed in Shenzhen, dropped 0.18 percent to 1,625.19.

Securities and insurance shares both fell by 1.43 percent at the closing bell.