Shares decline on bleak earnings outlook

Chinese stocks slipped 0.61 percent yesterday in thin trade to a fresh six-week closing low as blue chips remained soft on looming expiries of lock-up periods for shares and a bleak outlook for corporate earnings.

The Shanghai Composite Index, which traded narrowly in the morning session on Christmas Day, closed at 1,852.419 points after hitting its lowest level in six-weeks at 1,832.355.

It has lost 5.86 percent over three days earlier this week.