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China: Stocks close down as financial sector drags

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China stocks closed down on Thursday as financial sector stocks led indexes lower following a 14 per cent gain from Nov 3 to early this week.

[SHANGHAI] China stocks closed down on Thursday as financial sector stocks led indexes lower following a 14 per cent gain from Nov 3 to early this week.

The CSI300 index of the largest listed companies in Shanghai and Shenzhen fell 1.0 per cent, to 3,795.32, while the Shanghai Composite Index lost 0.5 per cent, to 3,632.90 points.

Traders say financial stocks are under pressure this week as investors take profit, after the sub-index outperformed the broader index last week.

Total turnover of A shares traded in Shanghai was 36.1 billion lots, while Shenzhen volume was 40.3 billion lots.

REUTERS