1st LD-Writethru: Chinese shares close lower Friday
Xinhua,April 20, 2018 Adjust font size:
BEIJING, April 20 (Xinhua) -- China's major stock indices closed lower Friday, with logistics and trade firms and cement producers recording sharp declines.
The benchmark Shanghai Composite Index dropped 1.47 percent to 3,071.54 points, while the Shenzhen Component Index lost 1.79 percent to 10,408.91 points.
The ChiNext Index, which tracks China's NASDAQ-style board of growth enterprises, fell 2.06 percent to close at 1,782.81 points.
Combined turnover on the two bourses stood at 447 billion yuan (about 71 billion U.S. dollars), narrowing from 483 billion yuan on the previous trading day.
Logistics and trade stocks saw heavy losses. Xiamen ITG Group, a trade company in east China's Fujian Province, recorded a 6.1-percent decrease in stock price.
Cement firms also tumbled, with Taiyuan Lionhead Cement shedding 7.7 percent.
Non-ferrous metal stocks dropped, too. The share price of Chengtun Mining Group lost 6.1 percent. Enditem