Friday, 21 August 2015 09:33
SHANGHAI: Shanghai stocks slumped 3.04 percent by the break on Friday, extending heavy losses from the previous day after China’s preliminary manufacturing data for August hit a 77-month low, dealers said.
The benchmark Shanghai Composite Index slumped 111.47 points to 3,552.82.
The Shenzhen Composite Index, which tracks stocks on China’s second exchange, slid 3.86 percent, or 83.14 points, to 2,072.35.
The preliminary reading of Caixin’s Purchasing Managers’ Index came in at 47.1 in August, showing a more severe contraction than July’s 47.8 and the worst for reading nearly six and half years, the Chinese media group said in a joint statement with Markit.
