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Index ends week at 2,979.63

SHANGHAI'S key stock index ended slightly lower today, led by heavy-weighted Sinopec which freed up 57 billion shares for trading after a lock-up period.

Asia's biggest oil refiner unlocked 65.8 percent of its total capital, and fell 1.3 percent. It became the largest listed company by market value across the mainland's two bourses with a market value of 820 billion yuan (US$120.12 billion).

The benchmark Shanghai Composite Index lost 0.11 percent to 2,979.63 points after touching a low of 2,931.92 points. The local index gained 2.23 percent this week.

Turnover shrank to 104.8 billion yuan (US$15.4 billion) from 110.5 billion yuan on Thursday. Losers outnumbered gainers 452 to 403, with 26 stocks unchanged.

The Shenzhen Composite Index, which tracks the smaller domestic market, was up 0.31 percent to close at 1,028.42 points.


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