Following the 6.5 percent plunge on Thursday, share prices on China's Shanghai and Shenzhen bourses were in volatile trading throughout Friday and finally reversed from nearly 4 percent fall in the morning and closed mixed, led by small-caps, especially the ChiNext board, which posted strong rebounds of more than 3 percent.
A new round of IPOs will be available for subscription next week, which is expected to freeze trillions of yuan subscription capital. Liquidity concerns are thus expected to linger on. For the whole day, the benchmark Shanghai Composite Index went down 0.18 percent to end at 4,611.74 points. The Shenzhen Composite Index bounced backed 1.32 percent to end at 2,793.25, the SME Index for small firms increased 1.11 percent to end at 10,972.11 and the ChiNext index soared 3.20 percent to close at 3,542.84.
Combined turnover of the two bourses shrank to 1.91 trillion yuan form 2.42 trillion yuan in the previous trading day. Stocks of petroleum, insurance, securities dealers, environmental protection, transport services, coal, banking, and natural gas sectors led the losers on Friday, while internet, computer equipment, software services, transport equipment, shipbuilding, telecom equipment, and aviation devices sectors outperformed. On the stock index futures market, the IF June contract sank 1.60 percent to end at 4,897.0, keeping a premium of 56.17 points over the underlying Hushen 300 Index, which went up 0.14 percent to close at 4,840.83.
The SSE 50 June contract lost 2.21 percent to end at 3,118.6, keeping a premium of 7.27 points over the underlying SSE 50 Index, which decreased 0.43 percent to close at 3,111.33 The CSI June contract edged down 0.06 percent to close at 10,121.0, keeping a premium of 154.16 points over the underlying CSI 500 stock index, which surged 1 percent to end at 9,966.84.
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