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China: Shares end lower, investors take profit ahead of economic data

Friday, April 8, 2016 - 15:35

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China stocks closed down on Friday ahead of a slew of economic data, with some investors locking in profit from a month-long rebound that reflects expectations for a strong first quarter.

[SHANGHAI] China stocks closed down on Friday ahead of a slew of economic data, with some investors locking in profit from a month-long rebound that reflects expectations for a strong first quarter.

China's blue-chip CSI300 index fell 0.7 per cent, to 3,185.73, while the Shanghai Composite Index lost 0.8 per cent, to 2,984.96.

For the week, the CSI300 was down 1.1 per cent while the SSEC fell 0.8 per cent.

China's foreign exchange reserves surprisingly rose in March, the first monthly gain since November, as cooling expectations of US interest rate hikes eased pressure on the yuan.

But investors awaiting economic indicators for March, including money supply, new lending and inflation due over the next week, refrained from active trading.

REUTERS

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