Slowing PMI, weak property send equities down Tuesday
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Chinese shares extended declines Tuesday as figures released the same day showed a slowdown in month-on-month manufacturing growth.
The Purchasing Managers' Index (PMI) for China's manufacturing sector stood at 53.9 percent in May, down 1.8 percentage points from last month, the China Federation of Logistics and Purchasing (CFLP) said Tuesday.
Property shares remained gloomy and pharmaceutical firms led falls after gainings on previous trading days.
The Shanghai Composite Index closed down 23.86 points, or 0.92 percent, at 2,568.28 points.
The Shenzhen Component Index lost 1.04 percent, or 105.72 points, to 10,098.45 points.
Total turnover was 150.5 billion yuan, down from 163.8 billion yuan on the previous trading day.
Losers outnumbered gainers by 716 to 164 in Shanghai and 796 to 162 in Shenzhen.
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