SHANGHAI (Reuters) – China’s stock market closed at 16-month lows on Friday, extending losses even as state-owned newspapers and mutual funds tried to calm investors after a sharp sell-off in the previous session on concerns over a further monetary tightening. fast in the United States.
The CSI300 index, which brings together the largest companies listed in Shanghai and Shenzhen, dropped 1.21%, while the Shanghai index dropped 0.97%.
For the week, the CSI300 is down 4.5%, the biggest drop since August 2021, while the Shanghai index saw its biggest weekly decline in 11 months, at 4.6%.
Markets in China will be closed from January 31st for the weeklong Lunar New Year holiday.
State newspapers wrote in editorials, citing experts, that international risks can only have a limited impact on China.
At the same time, a number of Chinese mutual funds bought their own products in efforts to ease investor jitters after shares hit nearly 16-month lows on Thursday.
. In TOKYO, the Nikkei index advanced 2.09% to 26,717 points.
. In HONG KONG, the HANG SENG index fell 1.08% to 23,550 points.
. In SHANGHAI, the SSEC index lost 0.97% to 3,361 points.
. The CSI300 index, which brings together the largest companies listed in SHANGHAI and SHENZHEN, dropped 1.21% to 4,563 points.
. In SEOUL, the KOSPI index appreciated by 1.87%, at 2,663 points.
. In TAIWAN, the TAIEX index remained closed.
. In SINGAPORE, the STRAITS TIMES index fell by 0.42% to 3,246 points.
. In SYDNEY, the S&P/ASX 200 index advanced 2.19% to 6,988 points.
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