China stocks extended losses on Friday as investors booked profits after recent sharp gains, with the Shanghai benchmark index poised for their worst weekly losses in nearly two years.
At 04:03 GMT, the Shanghai Composite index was down 14.16 points or 0.4 per cent at 3,432.82. It was on track for a weekly loss of 3.5 per cent.
China’s blue-chip CSI300 index was down 0.2 per cent, with the financial sector sub-index lower by 0.42 per cent, the consumer staples sector down 1.76 per cent, the real estate index up 0.67 per cent and healthcare sub-index up 0.19 per cent.
The CSI300 has shed 3.2 per cent this week, reports Reuters.
The largest percentage losses in the Shanghai index were Guizhou Chitianhua Co Ltd down 10.03 per cent, followed by Routon Electronic Co, Shandong Jintai Group Co Ltd.
The top gainers among H-shares were People’s Insurance Group of China Co Ltd up 5.0 per cent, followed by Guangzhou Automobile Group Co Ltd gaining 3.18 per cent and Air China Ltd up by 3.01 per cent.
