China shares up despite weak manufacturing data
Last Updated:2013-07-01 17:49 | Xinhua
 Save  Print   E-mail

(Photo source:

Chinese shares went up Monday despite weak purchasing managers' index (PMI) data.

The benchmark Shanghai Composite Index went up 0.81 percent, while the ChiNext Index, which tracks China's NASDAQ-style board of growth enterprises, surged 4.37 percent.

China shares opened lower on Monday, as the newly-released PMI came in at 50.1 percent in June, hitting a four-month low and down 0.7 percentage points from May.

The market reversed early losses in the afternoon, driven by bargain hunting after a seven-day losing streak in late June.

But sentiment remained fragile, with total turnover on the two bourses shrinking to 103.15 billion yuan (16.82 billion U.S. dollars) from 160.67 billion yuan the previous trading day.

The media and entertainment sector led Monday's gains, with the sub-index for the sector up 4.45 percent. The Zhengjiang Daily Media Group rose by the daily cap of 10 percent to 23.73 yuan per share, while the Northern United Publishing and Media Company soared by 9.93 percent to 5.98 yuan per share.

The growth-sensitive cement and coal sectors were among the biggest losers, with their sub-indices down 0.48 and 0.17 percent, respectively.

The financial sector also retreated, with the sector's sub-index down 0.15 percent. Ping An Bank shed 2.21 percent to 9.75 yuan per share. China Merchants Bank dropped 1.9 percent to 11.38 yuan per share and Shanghai Pudong Development Bank ended down 1.3 percent to 8.17 yuan per share.

Share to 
Related Articles:
Most Popular
Chinese | BIG5 | Deutsch
Xinhuanet | | People's Daily Online | | CNTV | | Global Times | | China Youth International | Visit Beijing | Women of China |
About | About the Economic Daily | Contact us
Copyright 2011 China Economic Net. All right reserved