Beijing - Shares on China's two stock markets plunged by 3 per cent on Wednesday as financial firms led a third straight daily fall following last week's global market losses.

The key Shanghai Composite Index, which tracks shares traded in local and foreign currencies, ended down 65.61 points, or 3.04 per cent, at 2,092.22.

The smaller Shenzhen Component Index also lost more than 3 per cent as both markets fell for the third consecutive day of trading since a seven-day National Day holiday ended Sunday.

Wednesday's losses were driven by financial and brokerage shares and affected by falls in regional markets and concerns over the growing global financial crisis, state media said.

Three of China's main commercial banks were heavy losers, while shares also plummeted in the nation's biggest listed property firm, Vanke.

Vanke said property sales fell by 38 per cent year-on-year in September, the Shanghai Daily reported. (dpa)