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China stocks close slightly lower Friday


08:23, October 20, 2012

BEIJING, Oct. 19 (Xinhua) -- Chinese stocks reversed gains to edge down on Friday as investors remained hesitant to trade amid slowdown concerns.

The benchmark Shanghai Composite Index dropped 0.16 percent, or 3.39 points, to finish at 2,128.3.

The Shenzhen Component Index closed at 8,796.42, down 1.78 points, or 0.02 percent.

Combined turnover came in at 105.8 billion yuan (16.77 billion U.S. dollars) on the two bourses, down from 130.8 billion yuan the previous trading day.

Most shares saw losses on Friday, with losers outnumbering gainers by 581 to 327 in Shanghai and by 850 to 604 in Shenzhen.

Investors acted prudently as official data released early on Friday showed that less foreign capital had flowed into the country despite recent economic data showing signs of a pick-up in the world's second-largest economy.

Foreign direct investment dropped 6.8 percent year on year to 8.43 billion U.S. dollars in September, China's Ministry of Commerce revealed Friday.

Clothing and footwear manufacturers led the declines, with Luolai Home Textile Co., Ltd. tumbling 4.81 percent to finish at 42.79 yuan per share and Shenzhen Fuanna Bedding and Furnishing Co., Ltd. dropping 3.82 percent to close at 34.24 yuan per share.

Biopharmaceutical and medical equipment stocks also fell. Harbin Sanjing Pharmaceutical Shareholding Co., Ltd. lost 4.13 percent to close at 9.75 yuan per share. Guangdong Biolight Meditech Co., Ltd. edged down 2.71 percent to end at 16.88 yuan per share.

Bucking the trend, media and entertainment shares logged gains on Friday, with Anhui Xinhua Media Co., Ltd. jumping 9.91 percent to close at 13.2 yuan per share.

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