China stocks lower in morning trade

Chinese stocks were down in morning trade on Friday as new share issues drained funds from the rest of the market, dealers said. The benchmark Shanghai Composite Index eased 0.54 percent, or 10.85 points, to 2,012.89. The Shenzhen Composite Index, which tracks stocks on China's second exchange, made marginal losses -- edging down 0.18 points to 1,040.24. Six companies began offering shares to investors this week ahead of planned listings, according to state media, according to AFP.