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1st LD-Writethru: Chinese shares close lower after roller-coaster ride

Xinhua,May 11, 2018 Adjust font size:

BEIJING, May 11 (Xinhua) -- Chinese stocks closed lower following a roller-coaster trading day Friday.

The benchmark Shanghai Composite Index went down 0.35 percent to end at 3,163.26, and the Shenzhen Component Index closed 0.89 percent lower at 10,634.30.

Combined turnover on the two bourses stood at 414.1 billion yuan (about 65.2 billion U.S. dollars), up from 412.6 billion yuan the previous trading day.

The Shanghai index opened higher in the morning but finally lost ground after swinging between gains and losses.

Stocks related to Hainan Province, Foxconn and medical equipment sector led the drops.

Bucking the trend, the index was buoyed by shares in automobiles, gold and coal mining.

Friday's data showed that about 2.32 million vehicles were sold in April, up 11.5 percent year on year, according to the China Association of Automobile Manufacturers.

Shares in gold gathered strength from a gold price recovery in the

international market.

The ChiNext Index, China's NASDAQ-style board, fell 1.64 percent to close at 1,834.78. Enditem

 

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