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China stocks end flat as drugmakers slump; up for the week


Friday, 7 December 2018 14:37 WIB

The Shanghai Composite IndexSaham Cina Shanghai compositeCSI 300 Blue-Chip


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China's main equity market indexes ended flat on Friday in thin trade as investors remained cautious after the arrest of a senior Huawei executive sparked a global sell-off on fears it could derail hopes for a lasting U.S.-China trade detente.

At the close, the Shanghai Composite index was flat at 2,605.88 points. But despite the sharp fall on Thursday, it gained 0.7 percent for the week.

The blue-chip CSI300 index also ended flat at 3,181.56 points, with its financial sector sub-index higher by 0.07 percent, the consumer staples sector down 0.25 percent, the real estate index up 0.66 percent and the healthcare sub-index down 4.31 percent. The CSI300 index gained 0.3 percent for the week.

The smaller Shenzhen index ended unchanged for the day and the start-up board ChiNext Composite index was weaker by 0.352 percent.

So far this year, the Shanghai stock index is down 21.2 percent, the CSI300 has fallen 21.1 percent while China's H-share index listed in Hong Kong is down 10.9 percent. Shanghai stocks have risen 0.68 percent this month.

Meng Wanzhou, chief financial officer of Huawei Technologies Co Ltd, who is under arrest in Canada is set to appear in a Vancouver court on Friday for a bail hearing as she awaits possible extradition to the United States.

President Donald Trump did not know about plans to arrest Meng, two U.S. officials said on Thursday, in an apparent attempt to stop the incident from impeding crucial trade talks with Beijing.

Source: Reuters


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