Chinese stocks fall on concern over snowstorms

Chinese share prices closed 1.43 percent lower Friday, with key Shanghai heavyweights leading the slump amid concerns over the recent bad weather, dealers said.

Shanghai bourse opened firm on strength in regional markets, but gains were offset by losses in companies such as PetroChina, and a disappointing trading debut for China Coal Energy.

The Shanghai Composite Index, which tracks yuan-denominated A shares and hard-currency B shares, slid 1.43 percent, or 62.63 points, to 4,320.77, the lowest point since August 1.

Losers in the Shanghai market outnumbered gainers 734 to 92 while 12 were unchanged.

The Shenzhen Composite Index, which covers the smaller mainland stock market, lost 2.77 percent, or 36.37 points, to 1,274.92.

(Agencies)