Reuters logo
China shares snap 3 weeks of gains, banks drag
June 6, 2014 / 7:06 AM / 3 years ago

China shares snap 3 weeks of gains, banks drag

HONG KONG, June 6 (Reuters) - China shares posted their first weekly loss in four, as investors pulled money out of the market while awaiting direction from major economic data in the coming week.

The Shanghai Composite Index ended down 0.5 percent at 2,029.96 points. The CSI300 of the leading Shanghai and Shenzhen A-share listings shed 0.7 percent.

On the week, the SSEC lost 0.5 percent, while the CSI300 was down 1 percent.

Mid-sized banks were the key underperformers on Friday. China Merchants Bank slid 1.6 percent, Industrial Bank sank 1.2 percent, and China Minsheng Banking Corp fell 0.8 percent.

Index heavyweight China Vanke, China’s largest property developer by market value, ended down 0.7 percent.

Markets are bracing for a slew of China economic data for May. Trade is due on Sunday, inflation on Tuesday, and urban investment, industrial output and retail sales next Friday. Monthly money supply and loan growth data is expected between June 10 and 15. (Reporting by Grace Li; Editing by Jacqueline Wong)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below