Shanghai bourse closes down for the week

Caixin's PMI released on Friday dipped in November, injecting caution into the market.

Shanghai shares closed largely unchanged on Friday as investors turned cautious after Caixin's Purchasing Managers' Index dipped to a five-month low for November, contradicting the official PMI.

The Shanghai Composite Index edged up 0.01 percent to close at 3,317.62 points — but down 1.08 percent for the week.

Caixin's independent PMI released on Friday showed a fall in business confidence on the one-year outlook, with subdued growth in new work and a sustained fall in employment.

The Caixin China General Manufacturing PMI stood at 50.8 in November, down from 51.0 in October. While remaining above 50.0 — which means an expansion — the index dipped to its lowest in five months, signalling only a marginal upturn in operating conditions, the Caixin report said.

Shares of telecommunications, electronics components and pharmaceutical companies were among Friday's top gainers.

Shanghai Fosun Pharmaceutical Group Co Ltd added 4.34 percent to 38.25 yuan (US$5.70), Eastern Communications Co Ltd rose 3.62 percent to 7.44 yuan and Zhejiang Tony Electronic Co Ltd climbed 2.81 percent to 74.01 yuan.


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