China stocks hammer on news of Billionaire Guo Guangchang missing

The Mainland China stock market finished lower on Friday, 11 December 2015, as risk sentiments subdued ahead of another series of economic data due on Saturday, including retail sales, industrial production, and fixed asset investment on Saturday. Also weighing on the market mood were media reports that Guo Guangchang, chairman and founder of Chinese conglomerate Fosun missing, raising fears that Guo had become the latest victim in China's deepening anti-corruption probes. Total 8 out of 10 industry categories on the main section lost ground, with decliners being led by consumer staples, information technology, industrials, utilities, and healthcare issues. The Shanghai Composite Index declined 0.61%, or 20.91 points, to close at 3434.58. The Shenzhen Composite Index, which tracks stocks on China's second exchange, dropped 0.72%, or 16.01 points, to close at 2195.86. The ChiNext Index, which tracks China's NASDAQ-style board of growth enterprises, rose 1.03%, or 27.59 points, to close at 2695.51.

Powered by Capital Market - Live News