China's stocks fall 1.02 pct as June's PMI slides

Chinese shares declined with the benchmark gauge down 1.02 percent Thursday, on concerns that the nation's economic growth is likely to slow down as June's PMI fell for the second month.

The Purchasing Managers' Index (PMI) for China's manufacturing sector stood at 52.1 percent in June, down 1.8 percentage points from last month, the China Federation of Logistics and Purchasing said Thursday.

The major gauge Shanghai Composite Index down 1.02 percent, or 24.58 points, to end at 2,373.79 points.

The Shenzhen Stock Index sank 1.95 percent, or 183.03 points, to 9,203.91 points.

Total turnover stood at 90.9 billion yuan, up from 56.48 billion yuan on the previous trading day.

Losers outnumbered gainers by 662 to 205 in Shanghai and 721 to 250 in Shenzhen.

Source: Xinhua