China shares slip, posting 3rd straight weekly loss
HONG KONG, June 21 (Reuters) - China shares suffered their third-straight weekly loss, but bounced off session lows on Friday, led by a recovery in some Chinese financial stocks after funding costs dropped, easing fears of a broader banking crisis on the mainland.
The CSI300 of the leading Shanghai and Shenzhen A-share listings closed down 0.2 percent at 2,317.4 points after being off more than 2.2 percent in early trade. The Shanghai Composite Index slipped 0.5 percent.
For the week, they each shed 4.1 percent amid concerns that a worsening cash crunch could overwhelm the country's interbank market.
On Friday, the overnight bond repurchase rate - a measure of the cost of cash - fell to 8.39 percent on a weighted average basis. That was down sharply from Thursday's close of 11.62 percent, but still more than double typical levels.
(Reporting by Clement Tan; Editing by Kim Coghill)