Shanghai Composite drops 0.3%

Mainland China share market closed down in subdued trade on Friday, 14 November 2014, registering second day of consecutive drop, as profit booking continued amid concern recent rallies were excessive and economic slowdown woes, and ahead of start of a Shanghai-Hong Kong exchange link on Monday, 17 November 2014. The Shanghai Composite Index fell 0.3 percent to 2,478.82 at the close, trimming this week's gain to 2.5 percent.

China's economic slowdown deepened in October as industrial output growth and fixed-asset investment trailed estimates. Industrial output in China rose 7.7% in October from a year earlier, slowing from an 8% on year increase in September, the National Bureau of Statistics (NBS) said on Thursday. Separately NBS data showed fixed-asset investment in nonrural areas rose 15.9% in the January-October period compared with the same period a year earlier, slower than the 16.1% increase recorded in the January-September period. Meanwhile retail sales rose 11.5% in October from a year earlier, slowing slightly from an increase of 11.6% on year in September.

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