SHANGHAI: Mainland China’s shares extended losses to end lower on Friday as investors squared their books for the upcoming holidays, while Hong Kong stock markets climbed on hopes that Beijing will deliver an imminent cut in its outstanding mortgage rate. Mainland China markets will be closed on Monday and Tuesday for the Mid-Autumn Festival, while Hong Kong will be closed on Wednesday, Sept. 18. President Xi Jinping on Thursday urged China to strive to achieve its annual economic and social development goals and tasks, raising market hopes for further policy stimulus. China’s top legislative body has approved a proposal to raise the country’s retirement age, the official Xinhua news agency said on Friday, accelerating an overhaul of decades-old laws to tackle the economic pressure of a shrinking workforce. News Desk
At the close, the Shanghai Composite index was down 0.48% at 2,704.09 points, the lowest closing price since Feb. 5.
The blue-chip CSI300 index was down 0.42% at 3,159.25 points, the weakest close since Jan 2019. The financial sector sub-index was flat, the consumer staples sector dropped nearly 2%, the real estate index inched 0.36% higher, while the healthcare sub-index lost 0.59%.
