SHANGHAI, Jan 13 (Reuters) - China's main indexes fell for
the fourth session on Friday, pressured by tech stocks as faster
approval of IPOs exacerbated concerns over the valuations of
The blue-chip CSI300 index rose 0.1 percent, to
3,319.91 points, while the Shanghai Composite Index lost
0.2 percent to 3,112.76 points.
For the week, CSI was down 0.9 percent, while SSEC was down
The tech-heavy ChiNext Price Index, China's
equivalent of the Nasdaq, slid 1.6 percent in its 7th
session of losses to hit a fresh 10-month low, as faster
approvals for IPOs increased the supply of equity in the market.
The pace of new IPOs has been a hot topic in domestic media
reports as they are seen putting pressure on the market.
Adding to the worry was data showing China last year
suffered its worst export fall since 2009 as fears of a trade
war with the United States loom.
Blue-chips were more stable with buying in financials
, while Shenzhen SE Component Index, the
benchmark index tracking Shenzhen shares, was down 1.2 percent
to a near six-month low.
China Vanke jumped 6.9 percent after its No. 2
shareholder decided to sell its entire stake to Shenzhen Metro
(Reporting by Luoyan Liu and John Ruwitch; Editing by