Shanghai Stocks Lose 1.29% On Weak Manufacturing Data

Shanghai stocks sank 1.29 percent Friday after a six-day rally as data showed manufacturing activity in the world’s number two economy hit a 15-month low in July, dealers said.

The Shanghai Composite Index fell 53.01 points to 4,070.91 on turnover of 843.0 billion yuan ($ 137.8 billion). However, it gained 2.87 percent for the week.

The Shenzhen Composite Index, which tracks stocks on China’s second exchange, lost 1.27 percent, or 29.94 points, to 2,322.71 on turnover of 744.2 billion yuan. It added 6.04 percent over the week.

 

Source: AFP

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