Chinese stock markets shed 3.27 percent Wednesday dampened by talk that the half-cocked international board, the trading market for foreign companies to list in China, would dilute market liquidity.

The benchmark Shanghai Composite Index closed down 3.27 percent, or 78.98 points, to close at 2,333.41.

The Shenzhen Component Index lost 3.19 percent, or 319.55 points, to close at 9,693.39.