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China Bourse May Run Out Of Steam On Monday

The China stock market has finished higher in five straight sessions, gathering more than 120 points or 4.1 percent along the way. The Shanghai Composite Index now rests just above the 3,000-point plateau although investors figure to cash in on Monday.

The global forecast for the Asian markets suggests mild consolidation on geopolitical and trade concerns. The European and U.S. markets were slightly lower and the Asian markets are expected to open in similar fashion.

The SCI finished modestly higher on Friday as gains from the oil and resource stocks were offset by weakness from the financials and properties.

For the day, the index added 14.86 points or 0.50 percent to finish at 3,001.98 after trading between 2,989.25 and 3,010.35. The Shenzhen Composite Index jumped 20.84 points or 1.34 percent to end at 1,577.44.

Among the actives, Jiangxi Copper was up 0.06 percent, while Aluminum Corporation of China (Chalco) perked 0.75 percent, Yanzhou Coal rose 0.67 percent, Maanshan Iron was up 0.29 percent, Industrial and Commercial Bank of China added 0.17 percent, Bank of China dropped 1.05 percent, China Merchants Bank tumbled 1.80 percent, China Construction Bank skidded 1.72 percent, China Life Insurance shed 0.42 percent, Ping An Insurance lost 0.60 percent, PetroChina advanced 0.72 percent, China Petroleum and Chemical (Sinopec) climbed 0.93 percent, China Shenhua Energy sank 0.45 percent, Gemdale eased 0.08 percent, Poly Developments fell 0.49 percent, China Vanke retreated 1.44 percent and CITIC Securities soared 2.69 percent.

The lead from Wall Street is soft as stocks showed a lack of direction on Friday, bouncing back and forth across the unchanged line before ending lower.

The Dow shed 34.04 points or 0.13 percent to end at 26,719.13, while the NASDAQ lost 19.63 points or 0.24 percent to 8,031.71 and the S&P 500 fell 3.72 points or 0.13 percent to 2,950. For the week, the Dow added 2.4 percent, the NASDAQ jumped 3 percent and the S&P perked 2.2 percent.

Traders were looking ahead to this week's G20 summit in Japan, where Trump and Chinese President Xi Jinping are due to meet in an effort to revive trade talks.

Traders were also cautious amid escalating tensions between the U.S. and Iran after Iran's Revolutionary Guard shot down an unmanned U.S. surveillance drone on Thursday.

Crude oil prices moved higher on Friday, extending gains from previous session as escalating tensions between the U.S. and Iran raised concerns about a disruption in global crude supplies. West Texas Intermediate crude oil futures for August ended up $0.36 or 0.6 percent at $57.43 a barrel.

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