China Stocks  Reuters

(Reuters)

China Shares Fall For the Day, Up For the Week

Markets Reuters

China stocks slipped in quiet trading on Friday, led down by property shares hit by profit-taking after their significant gains the previous day.

Continue Reading Below

The blue-chip CSI300 index fell 0.5 percent, to 3,275.67, while the Shanghai Composite Index lost 0.3 percent to 3,033.90 points.

For the week, CSI300 was up 1.1 percent, while SSEC rose 1 percent.

Market sentiment was checked by a sharp pull-back in property shares following the previous session's surge.

Sector bellwether Vanke slumped 5.6 percent, giving back much of Thursday's 9.7 percent gains

Analysts said Friday's low volume reflected the coming of a long holiday break for China's National Day.

Continue Reading Below

After its close on Sept. 30, the market will be shut until Monday, Oct. 10, according to an exchange notice.

"Many investors are not in a mood to trade ahead such a long holiday," said Wang Yu, analyst at Pacific Securities.

"On the economic front, there's not much encouraging data that entices investors into the market," Wang said.

(Reporting by Samuel Shen and Nathaniel Taplin; Editing by Richard Borsuk)