Biggest weekly stocks loss in 4 months
Print Edition
SHANGHAI stocks declined yesterday, sending the key index to the biggest weekly loss in nearly four months, as uncertainties persisted over the economic outlook and market liquidity.
The benchmark Shanghai Composite Index fell 0.65 percent to 2,341.18.
The index posted the biggest weekly decline since the week ending on June 22, shedding 1.4 percent, after a slew of economic data for September released this week provided a mixed picture of the world’s second largest economy.
Analysts said investors are waiting for more clues on economic conditions as key data, including retail, industrial output and third-quarter economic growth rate, are coming out on October 21.
“Quarterly economic data to be released next week will briefly impact market sentiment,” said CITIC Securities in a report yesterday.
Concerns over liquidity pressure also depressed the market as a number of initial public offerings will open for subscriptions next week.
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