Shanghai shares down again, have 1st weekly loss in a month
HONG KONG Dec 13 (Reuters) - Shanghai shares posted a fourth daily decline on Friday, leading to their first weekly loss in a month, as investors continued to worry that China might lower its 2014 growth target while signs of faster interest-rate liberalisation hurt bank stocks.
The Shanghai Composite Index ended down 0.3 percent at 2,196.1 points, while the CSI300 of the top Shanghai and Shenzhen A-share listings slipped 0.1 percent. Both are at their lowest closing levels since late November.
On the week, they sank 1.8 and 1.9 percent, respectively - their first weekly loss since the period ended Nov. 8. In the year to date, the Shanghai index is down 3.2 percent and the CSI300 is off 4.6 percent.
China's leaders are expected to set 2014 targets and reform priorities at the annual economic planning meeting that began on Tuesday. It's not clear when the session will end. While targets are usually only announced at March's annual parliamentary session, investors expect a communiqué at the planning meeting for more signs of Beijing's priorities.
The HSBC-Markit manufacturing flash purchasing managers index (PMI) for December, a private survey of factory activity focused on private enterprises in the world's second-largest economy, is due on Monday at 0145 GMT.
The Economic Information Daily newspaper, controlled by the official Xinhua news agency, reported on Friday that Beijing could maintain its current proactive fiscal policy and prudent monetary policy positions, with some fine tuning.
The same newspaper had reported earlier this week that the central government may cut its 2014 growth target to 7 percent from this year's 7.5 percent. (Reporting by Clement Tan; Editing by Richard Borsuk)
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