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China stocks’ winning streak ends after state media shifts tone

Chinese shares, even as the benchmark index recorded its largest weekly gain in five years, snapped an eight-day winning streak to stall a rally fuelled by retail investors and cheerleading state media. The CSI 300 of Shanghai and Shenzhen-listed equities fell 1.8 per cent on Friday. The mounting coronavirus death toll in the US threatens to steer the recovery in the world’s largest economy off course, rippling fears through global markets.
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