Chinese stock markets saw a decline on Friday, with raw materials and real estate the biggest contributors to losses, according to China Global Television Network (CGTN) market analyst Timothy Pope.
The benchmark Shanghai Composite Index was down 1.18 percent to 3,888.11 points, while the Shenzhen Component Index closed 1.08 percent lower at 13,471.26 points.
Pope attributed the drop to raw materials and real estate sectors.
"Raw materials and real estate were among the biggest drags. We saw the gold producer Zijin Mining the biggest contributor to losses on the Shanghai Composite today. Interestingly, the big banks proved something of a haven, which is a bit of reversal from Monday, when Agricultural Bank, Bank of China and ICBC were among the biggest drags after the government's capital injection plans were announced," he said.
"This week the markets were also looking at plenty of macro data. Exports jumped 25 percent year-on-year in August and trade surplus widened again, showing just how much of the heavy-lifting external demand is still doing for the economy. Consumer and producer inflation also both ticked higher. Investors are watching that pretty closely," Pope noted.
China markets end week lower, with raw materials and real estate among biggest drags: analyst
