China Shares Reverse Losses but Down for the Week

Markets Reuters

MARKETS-CHINA-STOCK/CLOSE

China stocks ended Friday slightly higher, reversing initial losses, as the banking sector regained some composure in late afternoon trading.

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The blue-chip CSI300 index rose 0.2 percent, to 3,018.28, while the Shanghai Composite Index gained 0.2 percent, to 2,810.31 points.

But the for week, CSI300 was down 2.4 percent while the SSEC was off 2.2 percent, as the recent rally petered out.

The banking sector fell over 1 percent at one stage but narrowed their losses in the afternoon amid expectations that China's securities regulator would provide some market-friendly comments at a press conference to be held in Beijing on Saturday.

(Reporting by Samuel Shen and Nathaniel Taplin; Editing by Shri Navaratnam)