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1st LD-Writethru: Chinese shares stage mixed performance Friday following Wall Street losses

Xinhua, December 18, 2015 Adjust font size:

Chinese stocks closed mixed on Friday following overnight losses in the U.S. equity market, ending a two-day winning streak.

The key Shanghai index lost 0.03 percent to end at 3,578.96 points. The smaller Shenzhen index gained 0.04 percent, or 4.77 points, to close at 12,830.25 points.

The ChiNext Index, China's NASDAQ-style board of growth enterprises, dropped 0.19 percent to end at 2,830.26 points.

The total turnover of the two bourses stood at 958.9 billion yuan (147.9 billion U.S. dollars), down from 996.4 billion yuan the previous trading day.

Losers outnumbered gainers by 579 to 372 in Shanghai and 1,004 to 516 in Shenzhen.

The mixed performance came after losses seen in the U.S. equity market overnight. The Dow Jones industrial average dipped 1.43 percent while the S&P 500 finished down 1.5 percent as analysts believed Wall Street still needs time to digest the rate hike decision.

Over 60 stocks on the Shanghai and Shenzhen exchanges soared by the daily limit of 10 percent on Friday.

The market opened mixed in the morning and then fluctuated during the day. Shares related to transportation, medicine and wine were major gainers.

The sub-index for the transportation sector, which tracks 87 firms, surged 1.39 percent, with CTS International Logistics Corporation jumping by the daily limit of 10 percent.

Domestic airlines had a good trading day, with China Southern Airlines rising 7.89 percent and China Eastern Airlines gaining 4.67 percent.

The real estate subindex, covering 123 firms, was down 0.02 percent, despite the fact that new home prices climbed month on month in 33 of the stocks, up from 27 in the previous month, the National Bureau of Statistics said Friday.

Notably, China Vanke Co. Ltd., China's biggest residential developer, unexpectedly suspended trading on Friday afternoon, after Vanke's chair Wang Shi openly opposed the acquisition of shares by its largest stakeholder Baoneng Group. The move was considered as Vanke's strategy to deter the investor.

Vanke's stock rose by the daily limit of 10 percent on Friday morning. The company has seen a 62 percent increase since the beginning of this month. Endi