Chinese equities fall to end a volatile week

China stocks dropped on Friday amid heightened worries over Sino-US trade frictions.
Chinese equities fall to end a volatile week

China stocks dropped on Friday amid heightened worries over the Sino-US trade frictions and its impact on the country’s economy.

At the close of market hours, the Shanghai Composite index was down 2.48 percent to end at 2,882.30 points, and down 0.9 percent so far this week. The Shenzhen Component Index dropped 3.15 percent to close at 9,000.19 points, while the blue chip CSI300 lost 2.54 percent at 3,648.76 points.

Industry sectors posted more declines than gains. The agriculture industry continued the upward trend. The semi-conductor industry also led the gain.

Shares of hydrogen energy and industrial hemp were among the biggest percentage losers.

Turnover on the two major bourses totaled 573.7 billion yuan (US$83.14 billion). The volume in the previous trading session was 512.8 billion yuan.

Trade tension worsened this week after the Trump administration officially added China’s Huawei Technologies Co Ltd to a trade blacklist, immediately enacting restrictions that will make it extremely difficult for the telecoms giant to do business with U.S. companies.

The trade conflict had inevitable impact on asset prices. 

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