Chinese shares close lower Friday

Source: Xinhua| 2019-08-30 17:40:27|Editor: Xiaoxia
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BEIJING, Aug. 30 (Xinhua) -- China's major stock indices closed lower Friday, with telecom service sector leading the decline.

The benchmark Shanghai Composite Index lost 0.16 percent to 2,886.24 points while the Shenzhen Component Index closed 0.35 percent lower at 9,365.68 points.

The combined turnover of stocks in the two indexes stood at 554.7 billion yuan (about 78.3 billion U.S. dollars), expanding from 478.16 billion yuan the previous trading day.

Losers outnumbered gainers by 1,155 to 284 on the Shanghai bourse and 1,755 to 363 in Shenzhen.

Companies related to China's telecom service sector mostly saw a decline on Friday. AVCON Information Technology Co., Ltd. went down 4.74 percent to 4.42 yuan. Shenzhen Dvision Co., Ltd. lost 4.38 percent to close at 5.89 yuan.

Meanwhile, shipbuilding, liquor and rare earths sectors posted strong performances. CSSC Offshore & Marine Engineering (Group) Company Limited jumped the daily limit of 10 percent to 18.14 yuan. Luzhou Laojiao Co., Ltd., a leading household liquor maker, gained 4.98 percent to 96.88 yuan.

The ChiNext Index, China's NASDAQ-style board of growth enterprises, lost 0.61 percent to close at 1,610.9 points Friday.