China: Stocks close lower ahead of Lunar New Year

[SHANGHAI] China stocks dipped on Friday on market views that government moves to raise investment ceilings for overseas investors won't lead to an immediate surge in foreign buying of Chinese equities.

The CSI300 index of the largest listed companies in Shanghai and Shenzhen fell 0.7 per cent, to 2,963.79, while the Shanghai Composite Index lost 0.6 per cent, to 2,763.49 points.

For the week, SSEC was up 0.9 per cent while CSI300 gained 0.6 per cent.

Trading was thin on Friday as many traders have already left for the Lunar New Year holiday. Mainland markets will be closed all of next week.

REUTERS