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Shanghai stocks conclude the week with a 0.9-percent loss

SHANGHAI stocks ended lower today, posting a weekly loss of 1.2 percent as financial shares and property stocks were under pressure due to renewed regulatory measures.

The benchmark Shanghai Composite Index was down 0.91 percent to 3,246.07 with turnover at 224.1 billion yuan(US$32.5 billion)

Hot concepts such as shares related to the Xiongan New Area and the Guangdong-Hong Kong-Macau Great Bay Area retreated from earlier gains.

Property shares also lost steam after Hainan Province issued a home purchasing restriction starting today, bringing the total number of cities with residential property purchasing restrictions to 14.

China Vanke Co retreated 1.43 percent and Shenzhen Overseas Chinese Town Co lost 3.54 percent to 7.90 yuan.

Metal producers were among the gainers after tensions involving North Korea pushed up commodity prices. Zhongjin Gold Mining Co jumped 2.81 percent to 13.2 yuan and Western Region Gold Co hiked 4.16 percent to 26.32 yuan.

Dongguan Securities wrote in a research note today that the market sentiment is largely stable with positive macroeconomic data released earlier this week although it still faces fluctuation in the short term due to bumpy International relationships. 


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