Chinese markets have suffered their worst weekly performance since the financial crisis due to a flurry of initial public offerings (IPOs) and concerns about stricter trading rules.
A record $1.1tn (£693bn) worth of funds is locked up for subscription to IPOs, analysts at IG market said.
The benchmark Shanghai Composite fell by 6.4% to close at 4,478.36 and dropped more than 13% over the week.
That marked the index’s worst weekly decline since 2008.
However, in Hong Kong the Hang Seng index bucked the downward trend and rose 0.3% on Friday to close at 26,760.53.
via BBC
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Alfonso Esparza
trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
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