Bearish trend persists on capital markets

Banking, property shares lead slump on bourses as fund managers book profits

Equities continued their downtrend on China's A-share market on Friday, amid the sharp plunge in valuations this year.

The benchmark Shanghai Composite Index fell by 0.79 percent to close at 2516.25 points on Friday, and ended the week 2.99 percent lower with a four-day losing streak. The smaller Shenzhen Component Index declined by 1.2 percent to 7337.60 points, while the ChiNext Index, China's Nasdaq-style board of growth enterprises, was down 0.6 percent to 1270.3 points.