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Investors hurt in 'black Friday' trading

SHANGHAI'S key stock index lost nearly 2 percent on the last trading day of the week with investors still uncertain over the economic outlook.

The benchmark Shanghai Composite Index was down 1.91 percent, or 53.36 points, to close at 2,743.76 points. Turnover was 123.8 billion yuan (US$18.1 billion). Losers outnumbered gainers 719 to 144 and 45 remained unchanged. The index has lost a total of 0.47 percent in the past five trading days.

The Shenzhen Composite Index, which tracks the smaller domestic market, lowered 2.05 percent to close at 903.74 points.

Financial shares dragged the index down. Bank of Communications was down 1.82 percent to 8.09 yuan. Shanghai Pudong Development Bank lowered 2.90 percent to 20.43 yuan. Industrial & Commercial Bank of China, the nation's biggest lender, lowered 2.09 percent to 4.69 yuan.

Haitong Securities dipped 0.61 percent to 16.39 yuan. Sinolink Securities retreated 2.91 percent to 19.04 yuan. Shanghai Lujiazui Finance & Trade Zone Development Co Ltd lowered 1.60 percent to 23.91 yuan.

China Petroleum & Chemical Corp, Asia's largest refiner, and also known as Sinopec, lost 1.48 percent to 10.00 yuan. PetroChina, the largest oil producer and biggest heavyweight in the market, was down 1.84 percent to 13.89 yuan.

Air carriers were also weak. Air China, the biggest carrier by market value, buckled 4.24 percent to 6.35 yuan. China Southern Airlines Co Ltd lowered 2.85 percent to 5.11 yuan. Hainan Airlines dropped 4.09 percent to 5.16 yuan.

Henan Shenhuo Coal Industry and Electricity Power Co Ltd dipped 0.51 percent to 27.56 yuan. Shanxi Xishan Coal and Electricity Power Co Ltd lowered 0.46 percent to 26.24 yuan. Wuhan Steel Processing Co Ltd fell 5.21 percent to 7.64 yuan.


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