Shares dip amid weak trading

Source: Xinhua | 2017-09-01

SHANGHAI shares dipped yesterday as investors took profit while trading sentiment was subdued despite a survey showing China's factory activity turned out stronger than expected.

The Shanghai Composite Index dipped 0.08 percent to 3,361 points. The index posted a 2.7 percent rise for August, the biggest monthly gain in nine months and the third consecutive monthly climb.

Financial shares declined, with the Agricultural Bank of China losing 2.08 percent to 3.77 and China Merchants Bank shedding 1.51 percent.

Airline shares retreated from earlier rallies, with Air China falling 1.59 percent and China Eastern Airlines shedding 1.27 percent to 6.98 yuan.

Trading sentiment was largely subdued despite the faster-than-expected expansion in China’s manufacturing activity in August amid an improved supply and domestic demand, according to the National Bureau of Statistics yesterday.