China stocks erase gains on slowdown concerns
Updated: 2012-08-24 16:07
(Xinhua)
|
|||||||||
BEIJING -- Chinese stocks closed lower Friday, ending a rebound for two straight trading days over concerns for a further cooling growth in the world's second largest economy.
The benchmark Shanghai Composite Index moved down 0.99 percent, or 20.97 points, to close at 2,092.1.
The Shenzhen Component Index finished at 8,579.28, down 1.73 percent, or 151.27 points.
Market sentiments were weighed down after a survey released by HSBC Corp Thursday showed that China's manufacturing activity weakened in August despite government recent stimulus efforts.
The bank's preliminary China Manufacturing Purchasing Managers Index fell to a nine-month low of 47.8 in August on a scale on which numbers below 50 indicate a contraction.
Related Readings:
Manufacturing drops to 9-month low: HSBC
China's manufacturing industry may deteriorate further in August, affected by a faster drop in new orders and no significant signs of any improvement in the global economy, which analysts say could spark Beijing to accelerate plans to ensure growth.
Stock markets continue to be a depressing drag
In this prolonged stock market drought, many rainmakers are chanting the same old prayers beseeching government salvation.
- Relief reaches isolated village
- Rainfall poses new threats to quake-hit region
- Funerals begin for Boston bombing victims
- Quake takeaway from China's Air Force
- Obama celebrates young inventors at science fair
- Earth Day marked around the world
- Volunteer team helping students find sense of normalcy
- Ethnic groups quick to join rescue efforts
Most Viewed
Editor's Picks
Supplies pour into isolated villages |
All-out efforts to save lives |
American abroad |
Industry savior: Big boys' toys |
New commissioner
|
Liaoning: China's oceangoing giant |
Today's Top News
Health new priority for quake zone
Xi meets US top military officer
Japan's boats driven out of Diaoyu
China mulls online shopping legislation
Bird flu death toll rises to 22
Putin appoints new ambassador to China
Japanese ships blocked from Diaoyu Islands
Inspired by Guan, more Chinese pick up golf
US Weekly
Beyond Yao
|
Money power |