China: Shanghai Composite falls 0.65%

Mainland China share market closed down on Friday, 17 October 2014, on caution before release third-quarter economic growth figures next Tuesday and ahead of next week's Fourth Plenum, an annual meeting of China leaders which may offer clues about plans to address a slowing economy. Investors were also booking profit ahead of subscriptions for new initial public offerings next week. The benchmark Shanghai Composite index declined 15.32 points, or 0.65%, to finish at 2341.18.

The China Securities Regulatory Commission said on Wednesday after the market close that it had approved 11 new IPOs six on the Shanghai Stock Exchange, two on the small and medium enterprises board in Shenzhen, and three on the ChiNext board. Nine companies will open their IPOs for subscriptions next week, increasing pressure on market liquidity.

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