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Chinese shares dived over PMI data


20:32, April 23, 2013

BEIJING, April 23 (Xinhua) -- Chinese shares plunged on Tuesday after data from HSBC suggested China's manufacturing activity slowed in April.

The benchmark Shanghai Composite Index dived 2.57 percent, or 57.63 points, to end at 2,184.54, and the Shenzhen Component Index slumped 2.92 percent, or 264.48 points, to 8,793.13.

Combined turnover on the two bourses shrank slightly to 172.86 billion yuan (27.97 billion U.S. dollars) from 173.8 billion yuan on the previous trading day.

Most of the shares saw drops. About 100 shares shedding over 6 percent.

The preliminary figure for China's purchasing managers index for manufacturing sector stood at 50.5 in April, compared to March's final reading of 51.6, HSBC Holdings said.

Sectors of broker companies, building materials, real-estate, coal and banks led the slump.

Founder Securities shed 6.16 percent to 6.85 yuan, while Hong Yuan Securities moved down 3.59 percent, the smallest drop in the broker sector on the day, to end at 20.15 yuan per share.

Insurance shares extended the weak performance since the last trading day, led by New China Life Insurance Co., Ltd. declining 6.19 percent to 23.05 yuan per share.

The sector of environmental protection bucked the recent strong trend and also saw drops, with four companies shrinking over 5 percent.

Only three companies on both two bources hit the daily increase limit of 10 percent.

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