March 21, 2025 at 03:42 am EDT
(MT Newswires) -- Chinese shares ended the week with big losses amid a rise in bearish sentiment and subdued economic growth outlook.
The Shanghai Composite Index, the main gauge of Chinese stocks, fell 1.3% to 3,364.83. The Shenzhen Component Index dropped 1.8% to 10,687.55.
Strategists at BofA Securities said Chinese stocks could soon face a "meaningful correction," similar to the boom-and-bust cycle in 2015, Bloomberg News reported.
The strategists said long-term investors in mainland China worry about persistent issues such as weak job market recovery, deflationary pressures and subdued credit demand, while the effects of geopolitical tensions have been largely underestimated, according to the report.
Meanwhile, Fitch Ratings said China's economic growth outlook remains muted amid escalating trade tensions, a persistent property downturn and local-government financing vehicles' debt challenges. Along with a subdued IPO market, these factors continue to pressure asset valuations, the rating agency noted.
In company news, shares of Guangdong Xinyaguang Cable surged 304% versus its initial public offering price of 7.40 yuan on the first day of its trading on the Shenzhen bourse.

Sumber : MT Newswires