Chinese shares opened lower on Thursday after tumbling neary 5 percent the previous day amid market worries over high stock valuations.

The benchmark Shanghai Composite Index opened at 2,744.81 points, down by 41.52 points or 1.49 percent.

The index, which tracks both yuan-denominated A shares and hard-currency B shares traded on the Shanghai Stock Exchange, closed at 2,786.34 points on Wednesday, down 144.22 points from the previous close.

Source: Xinhua