Shares slip on PMI data

Source: Xinhua | 2017-05-03

SHANGHAI shares fell yesterday after growth in China’s manufacturing activity slowed in April.

The Shanghai Composite Index shed 0.35 percent to 3,143.71 points.

Growth in China’s manu­facturing sector slowed faster than expected in April, official data showed over the weekend, and the Caixin China General Manufacturing Purchasing Managers’ Index also fell.

Financial shares were under pressure amid worries that ongoing deleveraging measures to reduce debt in the financial sector would curb earnings.