Stocks decline in Shanghai, Shenzhen

BEIJING - The circulation stock market value in Shanghai and Shenzhen shrank 2.31 percent in this week's trading ending Friday.

Circulation value of the two bourses hit 19.87 trillion yuan ($3.26 trillion) on Friday.

Value of the two stock markets was 23.83 trillion yuan, down 2.41 percent week on week. The average stock price on the two bourses was 6.74 yuan, down 2.92 percent week on week.

Circulation market value refers to the result of total tradable stocks multiplied by their stock prices.

Chinese shares climbed slightly earlier this week after the central bank on Monday cut the reserve requirement ratio by 0.5 percentage points for banks engaged in proportionate lending to agricultural and small firms.

But the rise did not last as investors were worried about the impact from the restart of the initial public offering (IPO). The China Securities Regulatory Commission approved 10 IPO applications on Monday, marking the official restart of IPOs since mid-February.

The Shanghai bourse has 958 listed companies and Shenzhen stock market has 1,578.

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