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Journalism of Courage
China’s key stock index ended up 0.3 percent on Friday but posted a loss this week as uncertainties surrounding China’s property policies offset strong corporate earnings,sparking profit-taking in stocks that had outperformed the market recently,such as drug makers.
The Shanghai Composite Index finished at 2,610.7 points,losing 1.2 percent this week and reversing a rise of 1.4 percent last week.
Analysts see little potential for the index to surge or plunge in the near term and expect it to move narrowly around 2,600 early next week.
Qingdao Huaren Pharmaceutical Co was the biggest faller,dropping 5.64 percent as drug makers had outperformed the market recently due mainly to strong corporate earnings.
Investors,however,showed strong interest in new listings,with telecommunications service supplier Hangzhou Shunwang Technology Co being the day’s biggest gainer,jumping 63 percent from its initial public offering price.
