June 25 (Reuters) – China’s key stock index ended 0.5 percent lower on Friday with trade volumes holding near their lowest in 17 months, as a much-awaited major listing of a domestic bank sapped investor demand for other shares.
The benchmark Shanghai Composite Index .SSEC slipped to 2,552.8 points, falling for a third consecutive session.
For the week however, the benchmark index, one of the worst performers in the world this year, managed to climb 1.6 percent, its best weekly performance this month, as China’s move to relax its hold over the yuan this week gave a filip to markets worldwide.
“The market has been performing poorly so it would take some time to rebuild confidence before buyers start coming back,” said Cheng Yi, an analyst at Xiangcai Securities.
Turnover was very light at 51.5 billion yuan ($7.58 billion), marginally above the previous day’s total, which set a 17-month low. ($1=6.799 Yuan) (Reporting by Koh Gui Qing, Editing by Edmund Klamann)