China shares end down 0.4 pct

The index ended up 0.3 per cent last Friday,its last trading day before a three-day public holiday.

China8217;s stock market remains one of the world8217;s worst performers this year,down 22 per cent after China unleashed a range of policies to tame speculation in the property sector.

Analysts said the launch of Agricultural Bank of China8217;s mammoth initial public offering,with the schedule for the Shanghai portion announced on Wednesday night,was a factor curbing gains although much of the information had already been priced in.

The offering by Agricultural Bank,seeking to raise more than 23 billion in the world8217;s biggest IPO,will potentially stretch market liquidity and divert funds away from rivals.

8220;The market lacks positive news to support it and the index faces resistance near 2,600 points,8221; said Wen Lijun,an analyst at Nanjing Securities.

Volume remained very low,shrinking to 61 billion yuan 8.93 billion,its lowest in nearly two weeks,from Friday8217;s 73 billion.