(Yicai Global) Dec. 11 -- Last minute buying by bargain hunters helped shore up China’s mainland stock markets to narrow the day’s losses and prevent the major benchmark indexes from sliding to a multi-week low.
The selling pressure continued until the final trading hour on Friday. The Shanghai Composite Index, which lost as much as 1.4 percent during the day, managed to claw back up to a 0.77 percent drop at 3,347.19. Its Nasdaq-like Star Market Board 50 Index, or Star 50, ended the day up 0.2 percent at 1,362.96, after earlier tumbling as much as 1 percent.
The Shenzhen Component Index finished at 13,555.14, a drop of 1.28 percent. The ChiNext Price Index, which tracks growth enterprises in Shenzhen, declined 1.13 percent to 2,687.78.
All the indexes ended the week significantly lower after two big days of sell-offs, indicating that investors remain hesitant to take the markets into bull territory.
The Shanghai Composite Index finished the week down 2.83 percent, while its Nasdaq-like Star Market Board 50 Index, or Star 50, fell 2.98 percent. The Shenzhen Component Index dropped 3.36 percent, while the ChiNext Price Index declined 1.58 percent.
Editor: Kim Taylor