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Shares dip as investors turn cautious

2018-04-02 3 ℃

SHANGHAI stocks fell yesterday as investors turned cautious after China‘’s manufacturing production grew at its weakest since last December.

The Shanghai Composite Index dipped 0.18 percent to close at 3,163.18 points.

Market sentiment dimmed after the Caixin Manufacturing PMI dipped to a four-month low last month. The Caixin/Markit Manufacturing Purchasing Managers’ Index stood at 51 for March, down 0.6 points from February, according to the survey done by financial information service provider Markit and sponsored by Caixin Media Co Ltd.

Production and total new orders both expanded at their weakest for four months while exports rose marginally, according to the report from Caixin.

Banks, coal producers and consumer shares were among the biggest decliners.

Shanxi Xinghuacun Fen Wine Factory Co Ltd shed 3.77 percent to 52.90 yuan (US$8.43), China Construction Bank Corporation lost 3.10 percent to 7.51 yuan and Zhengzhou Coal Industry & Electric Power Co Ltd fell 3.41 percent to 5.39 yuan.