Chinese markets hold up well

More pressure seen as investors failed to price in risk associated with result

The Chinese stock market held up better than other major markets on Friday as the unexpected British vote to leave the European Union - called Brexit - sent the global equities and currency markets into wild turbulence.

The benchmark Shanghai Composite Index declined 1.3 percent to close at 2,854.29 points. The startup ChiNext index in Shenzhen tumbled as much as 3.6 percent in the afternoon trading, but managed to recoup the loss by closing slightly down by 0.47 percent.