Middle East tensions hit the markets

SHANGHAI - Most stocks fell on the Chinese mainland on Friday, adding to the benchmark index's first weekly drop in more than a month.

The retreat came on concern that higher oil prices caused by Middle East tensions will curb earnings growth.

China Petroleum & Chemical Corp, the nation's largest refiner, slid to the lowest in five weeks, and China Southern Airlines Co lost 1 percent after oil prices climbed to the highest in 29 months on Thursday. Industrial & Commercial Bank of China Ltd, the world's largest bank by market value, led gains for lenders after Citigroup Inc recommended large companies including banks. Jiangxi Copper Co climbed 2.1 percent.