Chinese shares close mixed amid market uncertainties

Source:Xinhua Published: 2017/5/19 17:20:52

Chinese stocks closed mixed on Friday with shrinking turnover amid lingering market uncertainties.

The benchmark Shanghai Composite Index inched up 0.02 percent to end the day at 3,090.63 points. The smaller Shenzhen Component Index closed 0.03 percent lower at 9,970.96 points.

Total turnover on the two bourses contracted to 353.8 billion yuan (51.3 billion US dollars) on Friday from 400 billion yuan on Thursday.

The ChiNext Index, China's NASDAQ-style board of growth enterprises, ended 0.69 percent lower to close at 1,801.08 points.

Founder Securities said the downward trend has not ended yet as relatively tight liquidity continues to weigh on blue chips.

Meanwhile, it is unclear how much impact the latest round of global selloff of risk assets will have on the stock market, according to an analysis note from Founder Securities.

US and European stock markets saw turmoil this week due to market concerns about whether the Trump administration could continue to push its economic reform agenda.

Chinese oil and gas stocks continued to gain on Friday, after China announced Thursday that it had succeeded in collecting samples of combustible ice in the South China Sea, a major breakthrough that may lead to a global energy revolution.

China Oilfield Services Limited, a Shanghai-listed subsidiary of China National Offshore Oil Corporation (CNOOC), jumped by the daily limit of 10 percent to 13.1 yuan.

Textile machinery and environmental sectors lost the most. Guangxi Bossco Environmental Protection Technology Co., Ltd. dropped 4.07 percent to 42.23 yuan.

Posted in: SOCIETY

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