China blue-chip index fall before holiday, worst week in nearly 5 months

miércoles 14 de septiembre de 2016 03:10 GYT
 

SHANGHAI, Sept 14 (Reuters) - China stocks fell in thin trading on Wednesday ahead of a long holiday weekend, with the market capping the shortened trading week with its worst performance in several months.

The blue-chip CSI300 index closed down 0.7 percent at 3,238.73 points, while the Shanghai Composite Index finished down 0.7 percent at 3,002.85 points.

For the week, CSI300 lost 2.4 percent, the biggest weekly percentage loss since April 22. While the SSEC was down 2.5 percent, having the worst week since May 13.

China's upbeat August economic data released on Tuesday, which showed both factory output and retail sales grew faster than expected, have failed to reinvigorate the market.

"Trading is typically light ahead of holidays," Chang Chengwei, analyst at brokerage Hengtai Futures said, noting that the mid-Autumn Festival on Thursday and Friday will soon be followed by China's National Day holiday which starts on Oct. 1, curbing risk appetite.

Most sectors fell in China, with transportation and infrastructure stocks leading the decline.

China's financial markets will be closed from Thursday, Sept. 15, through Sunday, Sept. 18, for the Mid-Autumn Festival. And they will resume on Monday, Sept. 19. (Reporting by the Shanghai Newsroom; Editing by Shri Navaratnam)