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.
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。