BEIJING, May 8 (Xinhua) -- Chinese shares continued the downward trend of the previous two trading days, opening 1.12 percent lower on Thursday for profit- taking.

    The benchmark Shanghai Composite Index, which covers both A and B shares, opened at 3,538.92 points, down 40.23 points or 1.12 percent.

    The Shenzhen Component Index on the Shenzhen Stock Exchange opened at 12,817.10 points, losing 162.08 points or 1.25 percent.

    Agriculture, electric power and petroleum chemical stocks led the plunge, which reflected refinancing and monetary tightening concerns from investors, said market analysts.

    Chinese stocks declined sharply on Wednesday, with the benchmark Shanghai Composite Index closed down 4.13 percent to 3,579.15 points, and the Shenzhen Component Index shed 5.28 percent to end at 12,979.19 points.