Chinese shares closed down Monday, ending a 7-day winning streak until the previous trading day. The benchmark Shanghai Composite Index shed 0.54 percent, or 15.93 points, to close at 2,955.23.
The recent rally in the Chinese stock market was mainly driven by the market's ample liquidity and the rebound may extend to the fourth quarter on investors' expectations of a continued wave of liquidity and prospects for improving earnings, analysts said.
China's stocks rose for a seventh day, capping the longest rally in 11 months, as economic growth spurs higher fund flows into the country and improving earnings prospects bolster the nation's lenders.
Hong Kong stocks shed 94.5 points, or 0.4 percent to close at 23,757.63 on Friday.
China's stock index futures closed higher Friday with the contract for October, the most actively traded, rising 2.5 percent from the previous trading day to end at 3,310.6 points.
The ChiNext Index, launched by the Shenzhen Stock Exchange (SSE) on June 1, dropped 1.49 percent, or 14.24 points, to close at 944.25 on Friday.
China's stocks rallied Friday, led by banks on earnings prospect and airlines and paper makers on stronger yuan. The benchmark Shanghai Composite Index rose for the seventh consecutive day by 3.18 percent, or 91.52 points, to close at 2,971.16, the highest since April 26.
The mainland benchmark stock index rose for a sixth day as investors shifted funds to financial companies on improving earnings prospects from so-called defensive companies, including producers of consumer staples.
China's stock index futures closed higher Thursday with the contract for October, the most actively traded, rising 1.15 percent from the previous trading day to end at 3,230.8 points.
The ChiNext Index, launched by the Shenzhen Stock Exchange (SSE) on June 1, dropped 0.44 percent, or 4.24 points, to close at 958.5 on Thursday.
China's stocks closed mixed Thursday, with the benchmark Shanghai Composite Index rising for the sixth consecutive day by 0.64 percent, or 18.28 points, to close at 2,879.64.
Mainland stocks rose for a fifth day, extending the benchmark index's bull market rally, after exports climbed last month and China's government said it will promote sales of construction material in rural areas.