By Reuters Staff
3 Min Read
SHANGHAI, April 30 (Reuters) - China stocks fell on Friday to close the week lower as data showed the country’s factory activity growth slowed in April, while worries over policy tightening and Sino-U.S. tensions continued to weigh on the market. The blue-chip CSI300 index fell 0.8% to 5,123.49, while the Shanghai Composite Index ended down 0.8% at 3,446.86. For the week, CSI300 slipped 0.2%, while SSEC dropped 0.8%. China’s factory activity expanded at a slower pace and missed forecasts in April as supply bottlenecks and rising costs weighed on production and overseas demand lost momentum. Despite the soft data, analysts and traders said overall solid economic growth allowed Beijing more leeway to rein in bubbles in its financial markets.