Stock indexes continue to head south
Print Edition
Chinese stocks continued to decline yesterday, led by losses among agriculture and new material companies.
The benchmark Shanghai Composite Index was down 1.3 percent to close at 3,363.9 points. The smaller Shenzhen Component Index fell 1.19 percent to 13,320.92 points.
The ChiNext ended 0.96 percent lower at 2,587.86 points, while the blue chip CSI300 Index declined 1.3 percent to 4,679.15 points.
Trading volume on the two major bourses came to 871.8 billion yuan (US$126 billion), down 216.6 billion yuan from the previous session.
Japanese investment bank Nomura said yesterday that it expects the official manufacturing PMI in August to be unchanged from July at 51.1.
Nomura said in a note that 鈥渄espite likely decent recovery momentum for high-tech industries in August, the resurgent flooding in mid-August could impact both production and demand along the Yangtze River. Overall, we expect the sequential growth recovery to weaken in the second half and Beijing to maintain its wait-and-see policy approach.鈥
Over 46 listed firms posted gains of more than 9 percent, while 34 other companies declined by over 9 percent.
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