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China shares close lower on weak manufacturing data

(Xinhua)    18:35, January 02, 2014
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BEIJING, Jan. 2-- Chinese shares closed lower on the first trading day of 2014 as weak factory activity data hit the market.

The benchmark Shanghai Composite Index dropped 0.31 percent, or 6.59 points, to finish at 2,109.39. The Shenzhen Component Index lost 0.09 percent, or 7.40 points, to finish at 8,114.39 on Thursday.

Total turnover on Shanghai and Shenzhen bourses shrank to 159.78 billion yuan (26.42 billion U.S. dollars) from 163.76 billion yuan on the previous trading day.

China's official purchasing managers' index (PMI) for the manufacturing sector dropped to 51 percent in December, down from 51.4 percent in November, the National Bureau of Statistics (NBS) said on Wednesday.

An HSBC survey showed on Thursday that the final reading of China's manufacturing purchasing managers' index (PMI) stood at 50.5 in December, down from 50.8 in November.

Analysts said the weak data indicated a cautious attitude by enterprises toward the future market and downward pressure on the economy.

New shares listings also added uncertainty to the market. China has approved a total of 11 companies to be listed since the state regulator resumed initial public offerings earlier this week. About 50 companies are expected to receive approval by the end of January.

Resources shares were among the biggest losers, with the sub-indices tracking coal and petrol sectors down 1.34 percent and 0.25 percent respectively.

Shanghai Datun Energy Resources sank 3.63 percent to 9.55 yuan per share and Datong Coal Industry went down 3.46 percent to 5.58 yuan.

China Oilfield Services plunged 5.91 percent to 21.00 yuan and PetroChina lost 0.52 percent to 7.67 yuan.

Bucking the trend, the ChiNext Index, tracking China's NASDAQ-style board of growth enterprises, went up 2.19 percent to closed at 1,333.00.

(Editor:intern1、Huang Jin)

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