Chinese shares dive over three percent

Chinese shares tumbled heavily on Thursday, with the benchmark Shanghai Composite Index nose-diving more than three percent.

The smaller Shenzhen index opened 1.88 percent lower at 11,504.9 points, Xinhua news agency reported.

The ChiNext Index, tracking China's NASDAQ-style board of growth enterprises, lost 2.15 percent to open at 2,415.33 points.