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Shanghai: Stocks open lower after profits report


[HONG KONG] Shanghai stocks slipped at the open on Friday following data showing profits from the country's industrial giants, adding to concerns about the state of the world's number two economy.

The benchmark Shanghai Composite Index dropped 0.52 per cent, or 19.01 points, to 3,616.54, while the Shenzhen Composite Index, which tracks stocks on China's second exchange, fell 0.62 per cent, or 14.47 points, to 2,311.22.

And the Hang Seng Index in Hong Kong rose 0.30 per cent, or 66.48 points, to 22,555.42.