China: Blue-chip index has 2nd straight week with solid gain

[BEIJING] China blue-chip CSI300 index shed early afternoon losses and finished flat on Friday, giving it a gain of 2.1 per cent for the week.

The CSI300 index, which tracks the largest listed companies trading in Shanghai and Shenzhen, ended at 3365.02, while the Shanghai Composite Index gained 0.1 per cent at 3108.10 on Friday.

It was the third week with a gain for the CSI300. For the week, SSEC was up 1.9 per cent, giving it a secondly weekly advance.

Mainland stocks had risen earlier in the week, led by financial shares, on hopes the government would roll out more stimulus this year to meet economic growth targets.

"I expect to see volatility continue over the next few weeks, but the overall trend of the market is upward," said Tian Weidong, analyst at Kaiyuan Securities in Shanxi.

REUTERS