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1st LD-Writethru: Heavyweights drag down Chinese shares Friday

Xinhua, February 19, 2016 Adjust font size:

Chinese stocks had a mixed performance on Friday, dragged down by heavyweights.

The benchmark Shanghai Composite Index dipped 0.1 percent to close at 2,860.02 points while the smaller Shenzhen index nudged up 0.45 percent at 10,162.32 points.

The ChiNext Index, which tracks China's NASDAQ-style board of growth enterprises, gained 0.92 percent to close at 2,211.01 points.

The ChiNext Index was ranked the best-performing index on Friday, remaining firmly positive during the afternoon session.

Total turnover on the two bourses waned to 481.38 billion yuan (73.85 billion U.S. dollars), compared with Thursday's 590.61 billion yuan.

Gainers outnumbered losers by 499 to 458 in Shanghai and 979 to 544 in Shenzhen.

Over 110 stocks rose by 5 percent and only 9 stocks declined over 5 percent during the day's trading.

Heavyweights underperformed Friday, repressing the broader index's fleeting attempt to turn positive and dragged it to lower levels during afternoon session.

The Industrial and Commercial Bank of China, China's largest bank, dived 0.99 percent to finished at 4.02 yuan.

Sub-index related to coal, travelling and steel were also among the worst performers on Friday.

The shares opened lower and nose-dived near midday break. The afternoon session started with immediate rebound and wobbled heavily, before finally eking out a slight loss at closing. Endi