Chinese equities declined on Wednesday, led by property developer shares on speculation that the government might announce new measures to cool the real estate market.

The benchmark Shanghai Composite Index dropped 1.34 percent, or 36.02 points, to end at 2,652.5. The Shenzhen Component Index fell 2.17 percent, or 253.31 points, to end at 11,412.1.

Combined turnover stood at 261.39 billion yuan (38.84 billion U.S. dollars), down from 265.96 billion yuan on the previous trading day.

Losers outnumbered gainers by 682 to 186 in Shanghai and 866 to 166 in Shenzhen.