China's stocks mixed, Shanghai index down on weak banking, property developer shares

Chinese equities closed mixed on Friday with the key Shanghai stock index down, led by banking shares and property developers on speculation that the government would announce more tightening measures over concern that bad loan might rise.

The benchmark Shanghai Composite Index dipped 0.38 points, or 0.01 percent to closed at 2,655.39. The Shenzhen Component Index inched up 1.94 points, or 0.02 percent, to end at 11,467.09.

Combined turnover expanded to 289.03 billion yuan (42.5 billion U.S. dollars) from 277.83 billion yuan on the previous trading day.

Gainers outnumbered losers by 476 to 393 in Shanghai and 648 to 382 in Shenzhen.

Source:Xinhua