HONG KONG, June 27 China shares ended mixed on
Friday but recouped some early losses as gains in
growth-sensitive metal producers offset a weaker insurance
The Shanghai Composite Index inched down 0.1 percent
to 2,036.51 points. The CSI300 of the leading Shanghai
and Shenzhen A-share listings added 0.1 percent.
For the week, they rose 0.5 and 0.6 percent, respectively.
The ChiNext of mostly high-tech start-ups listed
in Shenzhen posted its best weekly gain in five, advancing 5.2
percent, benefiting from the resumption of initial public
offerings which helped divert money to growth stocks.
Chinese insurers weighed on the index. Ping An Insurance
Group Co of China shed 1.0 percent, while China
Pacific Insurance Group slid 2.8 percent, extending
losses after closing at its highest this year on Tuesday.
In a research note dated June 19, Nomura reiterated its
bearish stance on the sector, citing concerns about the
insurers' exposure to debt-investment plans.
But steel and non-ferrous metal companies outperformed on a
steadier economic outlook. Inner Mongolia BaoTou Steel Union
climbed 2.6 percent, and Baoshan Iron & Steel
Jiangxi Ganfeng Lithium jumped 6.5 percent and
Henan Mingtai Al.Industrial 3.8 percent.
(Reporting by Grace Li; Editing by Kim Coghill and Jacqueline