Service PMI dampens index
By Ye Zhen |
November 6, 2012, Tuesday
|
Print Edition
Print Edition
SHANGHAI stocks fell for the first time in five days yesterday after data showed China's non-manufacturing sector grew at a slower pace last month, signaling that economic recovery remains weak.
The Shanghai Composite Index shed 0.14 percent to 2,114.03 points, snapping a four-day winning streak.
The HSBC China Service Purchasing Managers Index, a gauge of service activity in the private and export-oriented sectors, fell in October to 53.5 from September's 54.3, HSBC Holdings Plc and Markit Economics said yesterday. The reading indicated the service sector was growing at a slower pace.
Gold stocks fell after gold futures for December delivery fell 2.4 percent to US$1,675.20 per ounce in New York, the metal's lowest level since late August. Zijin Mining Group, the nation's largest gold producer, shed 0.8 percent to 3.84 yuan (61 US cents).
The Shanghai Composite Index shed 0.14 percent to 2,114.03 points, snapping a four-day winning streak.
The HSBC China Service Purchasing Managers Index, a gauge of service activity in the private and export-oriented sectors, fell in October to 53.5 from September's 54.3, HSBC Holdings Plc and Markit Economics said yesterday. The reading indicated the service sector was growing at a slower pace.
Gold stocks fell after gold futures for December delivery fell 2.4 percent to US$1,675.20 per ounce in New York, the metal's lowest level since late August. Zijin Mining Group, the nation's largest gold producer, shed 0.8 percent to 3.84 yuan (61 US cents).
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