SHANGHAI: China stocks ended lower on Friday, dragged down by liquor and financial firms, and posted a second straight weekly loss, while data showed the country's broader credit growth slowed in May.
The blue-chip CSI300 index fell 0.9% to 5,224.70, while the Shanghai Composite Index shed 0.6% to 3,589.75.
The CSI300 liquor index slumped 3.3% on persistent worries over lofty valuations, while the CSI300 financials index slid 1.1%.
Jiangsu Yanghe Brewery, Beijing Shunxin Agriculture and Xinghuacun Fen Wine dropped between 1.1% and 10.0%.
For the week, the CSI300 declined 1.1%, while the SSEC dipped 0.1%.
Many analysts and traders said there was a lack of momentum for a strong rally as they expect Beijing to maintain stable liquidity and a tight monetary stance.
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