China shares slide, post second-straight weekly loss
HONG KONG Jan 10 (Reuters) - China shares slid on Friday, led by the brokerage sector after a small drug maker postponed listing plans, after calling its share sale "too big."
Thomson Reuters IFR reported that the China Securities Regulatory Commission pressured Jiangsu Aosaikang Pharmaceutical Co Ltd to delay its listing, a move seen as rare since it came in the advanced stages of the listing process.
The CSI300 of the biggest Shanghai and Shenzhen A-share listings ended down 0.8 percent at 2,204.9 points, its lowest closing level since July 31. The Shanghai Composite Index sank 0.7 percent.
The indexes suffered their second-straight weekly decline and their biggest since the week that ended Dec. 20, sliding 3.8 and 3.4 percent, respectively.
Investors fretted over how the resumption of A-share IPOs after a halt of more than a year will inject more competition for funds at a time of tightening money supply in the mainland. (Reporting by Clement Tan and Donny Kwok; Editing by Kim Coghill)
- Crunch time for Gaza truce talks as death toll passes 800 |
- 'Weird Al' Yankovic still trying to wrap head around No. 1 album
- World's oldest joke traced back to 1900 BC
- French warplanes search Mali desert for crashed Air Algerie plane |
- Wreckage of Air Algerie plane carrying 116 people found in Mali |