Chinese stocks end lower after hitting 5-year high

Reuters Updated - January 24, 2018 at 01:48 PM.

Chinese stocks ended lower after hitting their highest level in over five years on Friday, in one of their most volatile trading sessions since the global financial crisis.

Key indices briefly surged more than 3 per cent in the afternoon trade, partly lifted by speculation of further monetary easing but quickly pulled back to end the day slightly lower.

The CSI300 index of the largest listed companies in Shanghai and Shenzhen fell 0.4 per cent to 3,546.72 points, while the Shanghai Composite Index lost 0.2 per cent to 3,285.41 points.

The SSEC had briefly hit its highest level since August 2009.

For the week, the SSEC index rose 1.6 per cent and CSI300 index gained 0.4 per cent.

China's annual consumer inflation hovered at a near five-year low of 1.5 per cent in December, signalling persistent weakness in the economy but giving policymakers more room to ease policy to support growth.

Total volume of A shares traded in Shanghai was 41.0 billion shares, while Shenzhen volume was 16.1 billion shares.

Published on January 9, 2015 07:20