Chinese shares end lower, commodity shares fall

Updated 2017-09-15 17:01:54 Xinhua

Chinese stocks closed lower on Friday with commodity shares dragging down the indices.

The benchmark Shanghai Composite Index went down 0.53 percent to close at 3,353.62 points. The Shenzhen Component Index closed 0.07 percent lower at 11,063.1 points.

Combined turnover on the two bourses shrank to 565.5 billion yuan (about 86.5 billion U.S. dollars) from 586.3 billion yuan the previous trading day.

Commodity stocks, including nonferrous metals and coal shares, lost the most. Shanxi Xishan Coal and Electricity Power, for example, went down 5.98 percent to close at 10.84 yuan per share.

Bucking the trend, companies in the real estate industry saw their share prices jump. Wolong Real Estate Group saw its shares up 7.41 percent to close at 7.1 yuan.

China's stock market has been bullish lately, holding firmly above the 3,300-point mark, a level that had previously seen strong resistance.

While profit-taking by investors may put pressure on the market in the short term, the A-share market will continue to gain momentum in the long run, according to Guotai Junan Securities.

The ChiNext Index, a NASDAQ-style board of growth enterprises, lost 0.19 percent to close at 1,875.63 points.

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