Chinese markets have suffered their worst weekly performance since the financial crisis due to a flurry of initial public offerings (IPOs) and concerns about stricter trading rules.
A record $1.1tn (693bn) worth of funds is locked up for subscription to IPOs, analysts at IG market said.
The benchmark Shanghai Composite fell by 6.4% to close at 4,478.36 and dropped more than 13% over the week.
That marked the index’s worst weekly decline since 2008.
However, in Hong Kong the Hang Seng index bucked the downward trend and rose 0.3% on Friday to close at 26,760.53.
via BBC
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