Mainland Chinese markets will be shut for China's week-long Lunar New Year holiday, which starts Jan. 31.
At close of trade, the benchmark Shanghai Composite Index declined 0.97%, or 32.81 points, to 3,361.44. The Shenzhen Composite Index, which tracks stocks on China's second exchange, fell marginal 0.00%, or 0.04 point, to 2,262.37. The blue-chip CSI300 index fell 1.21%, or 56.11 points, to 4,563.77. For the week, the Shanghai Composite Index lost 4.6% and the CSI300 index went down 4.5%.
CURRENCY NEWS: China's yuan gained against the dollar on Friday, despite weaker mid-point fixing by central bank. Prior to market opening, the People's Bank of China (PBOC) set the midpoint rate CNY=PBOC at 6.3746 per dollar, weaker than the previous day fix 6.3382. The spot yuan CNY=CFXS opened at 6.3600 per dollar and was changing hands at 6.3560 around midday, 130 pips stronger than the late session close on Thursday.
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