05/19/2023 03:23am EDT
(MT Newswires) -- Chinese shares finished mixed on Friday as concerns around the country's uneven recovery from the COVID-19 pandemic weighed on market sentiment.
The benchmark Shanghai Composite Index edged down 0.4%, or 13.78 points, to 3,283.54, after a brief breather on Thursday. The Shenzhen Component Index rose marginally to 11,091.36, snapping a three-day losing streak.
Sentiment was dampened by renewed concerns over China's economic recovery after data earlier this week showed that the country's economic activities lost momentum at the start of the second quarter.
Both industrial output and fixed-asset investments missed analysts' expectations in April.
"Private sector investment remains miserable, relative to state investment," said analysts from Pantheon Macroeconomics earlier this week.
ING Bank's Greater China chief economist Iris Pang said the Chinese economy needs faster fiscal support.
"Without long-term investments in technology and new energy, China's economic growth might not last after a brief rebound in the second and third quarters of the year," the economist warned.
On the corporate front, Shijihengtong Technology (SHE:301428) rose 76% on the first day of its trading on the Shenzhen Stock Exchange's ChiNext board against its IPO price of 26.35 yuan.

Sumber : MT Newswires