Chinese shares continue to drop Friday

Source: Xinhua| 2018-05-25 16:46:02|Editor: ZD
Video PlayerClose

BEIJING, May 25 (Xinhua) -- Major Chinese stock indexes closed lower for a fourth trading day Friday, dragged down partly by the integrated circuit and cyber security sectors.

The benchmark Shanghai Composite Index was down 0.42 percent to close at 3,141.30. The Shenzhen Component Index closed 1.1 percent lower at 10,448.22.

Combined turnover totaled 481.5 billion yuan (about 75.38 billion U.S. dollars), up from 382 billion yuan the previous trading day.

Bucking the trend, shares associated with automobile parts were strong, after the country unveiled plans earlier this week to cut auto tariffs in its latest efforts to open up its market.

Changzhou NRB Corporation, a producer of bearings and other auto parts, saw its share price up 10.07 percent.

Sub-new stocks also rallied Friday partly thanks to the strong performance of the country's first domestically listed unicorn firm WuXi AppTec, which rose by the daily ceiling for the 14th straight trading day.

The ChiNext Index, which tracks China's NASDAQ-style enterprises, lost 1.84 percent to close at 1,804.55.

KEY WORDS:
EXPLORE XINHUANET
010020070750000000000000011100001372062011