ecns [expanded by feedex.net]: Mainland stock markets fall sharply for lower PMI

ecns [expanded by feedex.net]

ecns

Mainland stock markets fall sharply for lower PMI
http://www.ecns.cn/business/2013/12-17/92834.shtml
Dec 16th 2013, 23:19



2013-12-17 08:19 Global Times


Stock markets in the Chinese mainland began the week with a sharp fall on Monday, with a preliminary survey indicating a fall in manufacturing activity in December.


The benchmark Shanghai Composite Index declined by 35.21 points or 1.60 percent to close at 2,160.86 points on Monday, sliding for a fifth consecutive trading day to a one-month low. The Shenzhen Component Index fell by 157.15 points or 1.86 percent to 8,272.67 points.


Combined turnover on the two bourses on Monday was 189.1 billion yuan ($31.14 billion), up from Friday's 165.0 billion yuan.


The decline in the two exchanges coincided with the release of the HSBC flash Purchasing Managers' Index for December, which came in at 50.5, a three-month low. The final PMI reading for November was 50.8.


The Tianjin city government announced on Sunday that it would limit car purchases by starting auctions for license plates, prompting a slide in auto stocks. Chongqing Changan Automobile Co fell by 6.15 percent to 11.91 yuan while SAIC Motor Co fell 5.40 percent to 14.55 yuan. The Central Economic Work Conference last week named the need to ensure national food security as one of six major tasks, boosting stocks linked to food safety. Grand Agriseeds Technology Inc jumped by the daily limit of 10 percent to 13.42 yuan.


As New York-listed Chinese online sports-lottery firm 500.com Ltd jumped 16.3 percent on Friday, companies linked to 500.com also gained on Monday. Paper maker Xiamen Anne Co soared by the daily limit of 10 percent to 11.56 yuan.


ChiNext, China's NASDAQ-style board for high-tech and fast-growing start-ups listed in Shenzhen, rose by 0.14 percent to 1,279.96 points.





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