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English>>China Business

Mainland markets weaken, environmental stocks end banner week

By Yu Xi (Global Times)

09:25, November 19, 2012

Chinese stock markets took a dive Friday, with the Shenzhen Component Index skidding to its lowest close in more than three and a half years.

The Shanghai Composite Index finished trading at 2014.73 points Friday, down 15.57 points, or 0.77 percent; while the Shenzhen Component Index closed the week at 8,118.15 points after slumping 67.92 points, or 0.83 percent.

By Friday, the Shanghai Composite and the Shenzhen Component were down 2.63 percent and 2.85 percent week-on-week respectively.

Both markets began last Monday with modest advances before heavy losses from property developers and brokerages pulled the indices back into loss territory Tuesday. Rallies in environmental protection, rare earth and brewing shares Wednesday helped the mainland equity markets log a modest advance. Thursday saw the markets take another tumble as concerns about the US's looming fiscal cliff and weakness in the European market clouded investor confidence on the Chinese mainland.

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