China stocks close mixed after weak manufacturing data

GMT 18:00 2014 Thursday ,20 November

Arab Today, arab today China stocks close mixed after weak manufacturing data

China stocks
Beijing - XINHUA

Chinese shares closed mixed on Thursday after new data showed manufacturing activity dropped to a six-month low.
The benchmark Shanghai Composite Index went up 0.07 percent to finish at 2,452.66 points. The Shenzhen Component Index closed at 8,205.38 points, down 0.24 percent.
Total turnover on the two bourses shrank to 295 billion yuan (48 billion U.S. dollars) from 326 billion yuan the previous trading day.
Preliminary figures from HSBC showed that China's purchasing managers' index for November dropped to 50.0 from October's 50.4.
"Furthermore, we still see uncertainties in the months ahead on the property market and export fronts," said HSBC chief China economist Qu Hongbin in a note.
Shares related to shipbuilding and aircraft manufacturing were big losers, with the sub-indices tracking the two sectors dropping 2.29 percent and 1.28 percent respectively.
Insurance and brokerage shares performed well. Guoyuan Securities gained 5.57 percent, Soochow Securities rose 4.40 percent and Western Securities moved up 4.26 percent.
New China Life Insurance increased 4.86 percent and China Life Insurance went up 3.16 percent.
The ChiNext Index, a NASDAQ-style board tracking growth enterprises, lost 0.73 percent to close at 1,494.59 points on Thursday.

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