China markets fall

Dhaka,  Monday,   2016-09-23
Published : 23 Sep 2016, 21:16:47

China markets fall

BEIJING, Sept 23 (Reuters): China stocks slipped in quiet trading on Friday, led down by property shares hit by profit-taking after their significant gains the previous day.

The blue-chip CSI300 index fell 0.5 per cent, to 3,275.67, while the Shanghai Composite Index lost 0.3 per cent to 3,033.90 points.

For the week, CSI300 was up 1.1 per cent, while SSEC rose 1 per cent.

Market sentiment was checked by a sharp pull-back in property shares following the previous session's surge.

Sector bellwether Vanke slumped 5.6 per cent, giving back much of Thursday's 9.7 per cent gains

Analysts said Friday's low volume reflected the coming of a long holiday break for China's National Day.

After its close on Sept. 30, the market will be shut until Monday, Oct. 10, according to an exchange notice.

"Many investors are not in a mood to trade ahead such a long holiday," said Wang Yu, analyst at Pacific Securities.

"On the economic front, there's not much encouraging data that entices investors into the market," Wang said.
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