China Stocks fall as China industrial profit growth slows

Mainland China stock market finished the session marginally lower on Friday, 27 May 2016, as risk sentiments were subdued after release of weaker than expected industrial profit data. Industrial companies' profit growth slowed from 11.1 percent in March. For the Jan.-April period, profits rose 6.5 percent from the previous year, according to the National Bureau of Statistics statement released on Friday. Sentiment toward Chinese stocks turned bearish after March's pickup in economic indicators didn't carry over to April and a high-profile warning by the People's Daily about the nation's high levels of debt damped hopes for more easing. Adding to the concern this week is the prospect of higher U.S. interest rates spurring capital outflows. The CSI300 index of the largest listed companies in Shanghai and Shenzhen shed 0.06%, to 3,062.50, while the Shanghai Composite Index fell 0.05%, to 2,821.05 points.

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