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Shanghai stocks have worst week in 14 months as small-cap woes bite


Friday, 2 February 2018 14:43 WIB

The Shanghai Composite IndexSaham Cina Shanghai compositeCSI 300 Blue-ChipShenzhen Composite Index


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China stocks reversed earlier losses and ended higher on Friday, underpinned by robust gains in resources firms. But major indexes still posted hefty weekly drops, led by the Shanghai benchmark index which posted its worst week in 14 months.

Market sentiment remained unstable, with more than 60 stocks tumbling the maximum allowed 10 percent, as investors continued to dump small-caps after firms including Leshi flagged large losses for 2017.

At the close, the Shanghai Composite index was up 15.96 points or 0.5 percent at 3,462.94.

The blue-chip CSI300 index was up 0.6 percent, with its financial sector sub-index higher by 0.1 percent, the consumer staples sector down 0.74 percent, the real estate index up 0.67 percent and healthcare sub-index up 0.16 percent.

For the week, SSEC dropped 2.7 percent, while CSI300 was down 2.5 percent.

The smaller Shenzhen index ended unchanged for the day and the start-up board ChiNext Composite index was higher by 0.3 percent.

Source: Reuters


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