Chinese shares closed flat on Friday as disappointment persisted over the drop in industrial profits in November.
The Shanghai Composite Index, the main gauge of Chinese stocks, marginally climbed to cap the trading week at 3,400.14. The Shenzhen Component Index, on the other hand, marginally slipped to close at 10,659.98.
The total profits of China's major industrial enterprises fell 7.3% year over year in November, according to data from the National Bureau of Statistics. The figures are a softer drop compared to 10% in October but steeper than the 6% decline predicted by Bloomberg-surveyed analysts.
The drop highlighted that consumer demand remained weak despite Beijing's efforts to boost the post-pandemic economy.
Between January and November, industrial profits slipped 4.7% year on year.
In corporate news, Kuang-Chi Technologies (SHE:002625) rose 6.3% amid plans to establish an unmanned aerial vehicle or UAV research and development base in the Chinese city of Leshan in Sichuan Province.
Moreover, Tongyu Communication (SHE:002792) jumped 4.5% after participating in the A1 funding round of satellite navigation company Beijing Blue Arrow Hongqing Technology.
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