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China's benchmark flat on economic concern

China's Shanghai stock benchmark ended flat Friday as uncertainty over the outlook for economic growth lingered.The benchmark Shanghai Composite Index closed flat at 2,655.39, but ended the week up 1.7 percent. The Shenzhen Composite Index for China's smaller second exchange edged up 0.5...

China's Shanghai stock benchmark ended flat Friday as uncertainty over the outlook for economic growth lingered.

The benchmark Shanghai Composite Index closed flat at 2,655.39, but ended the week up 1.7 percent. The Shenzhen Composite Index for China's smaller second exchange edged up 0.5 percent to 1,178.26.

China's manufacturing and auto sales rebounded in August, but analysts said the figures failed to reassure investors who worry economic growth is slowing sharply.

"Heavyweight shares remained sluggish because China's economic and policy outlook were still unclear," said Chen Jinren, an analyst for Huatai Securities in the eastern city of Nanjing.

Smaller shares, mostly renewable energy-related, gained on a government announcement that it would promote development of the industry, Chen said.

China Vanke Ltd., the country's biggest developer, shed 0.8 percent to 8.5 yuan, while rival Poly Real Estate Group slipped 0.5 percent to 11.77 yuan.

Resource and metal shares retreated on concern demand will weaken if growth slows.

Jiangxi Copper Ltd., China's largest metal producer, fell 1.4 percent to 31.1 yuan. China Shenhua Energy Ltd., the country's biggest coal producer, lost 0.9 percent to 23.63 yuan.

Baoding Tianwei Baobian Electric Co., a solar product maker, soared 7.3 percent to 21.95 yuan. Xinjiang Goldwind Sci & Tech Co., a major wind turbine maker, gained 4.8 percent to 13.93 yuan.

In currency markets, the yuan strengthened to 6.8023 to the U.S. dollar from Thursday's close of 6.8132.

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Associated Press researcher Bonnie Cao contributed to this report.

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