Chinese equities fall for a third trading day in a row Tuesday, after losses in heavyweights led by PetroChina and Ping An Insurance dragged the market down.

Both companies said late Monday that their profits slipped in the first quarter.

The benchmark Shanghai Composite Index closed the day at 2,401.44 points, down 3.91 points, or 0.16 percent. The Shenzhen Component Index edged up 0.24 percent to 9,082.22 points, up 22.08 points.

Gainers outnumbered losers by 591 to 238 in Shanghai and 502 to208 in Shenzhen.

Combined turnover shrank to 137.42 billion yuan (20.2 billion U.S. dollars) from 155.41 billion yuan on the previous trading day.