BUSINESS Chinese shares close lower Friday

BUSINESS

Chinese shares close lower Friday

Xinhua

15:53, October 23, 2020

BEIJING, Oct. 23 (Xinhua) -- Chinese stocks closed lower on Friday, with the benchmark Shanghai Composite Index down 1.04 percent to 3,278 points.

The Shenzhen Component Index closed 2 percent lower at 13,128.46 points.

The combined turnover of stocks covered by the two indices stood at 687.7 billion yuan (about 103.1 billion U.S. dollars), an increase from 663.7 billion yuan the previous trading day.

Losers outnumbered gainers 1,127 to 272 on the Shanghai bourse and 1,775 to 459 in Shenzhen.

Companies related to photoresist and biological products led the losses.

Bucking the downward trend, firms in the beer industry notched solid gains, with shares of Beijing Yanjing Brewery Co., Ltd. rising 3.86 percent to close at 8.62 yuan per share.

The ChiNext Index, China's NASDAQ-style board of fast-growing enterprises, lost 2.72 percent to close at 2,600.84 points on Friday.

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