September 02, 2024 at 03:39 am EDT
(MT Newswires) -- Chinese shares retreated at the start of the trading week, as investor sentiment was dampened by weak manufacturing activity.
The Shanghai Composite Index slipped 1.1%, or 31.18 points, to finish Monday's trade at 2,811.04. The Shenzhen Component Index dropped 2.1%, or 176.27 points, to 8,172.21.
China's manufacturing activity fell to its lowest in six months in August, dropping to 49.1 from the prior month's 49.4, according to data from the National Bureau of Statistics.
The figures indicated a slowdown in both demand and production activities.
However, the Caixin/S&P Global manufacturing PMI rose to 50.4 in August from 49.8 in July, suggesting a return to expansion.
China's services activity, on the other hand, showed a slight improvement, rising to 50.3 from 50.2 in the previous month. This was driven by stronger business activity.
In corporate news, Chongqing Water Group (SHA:601158) fell 6.1% at the close of trading after posting a 41.6% drop in its first-half profit to 712.5 million yuan. The Chinese water supplier's operating income slid 11.2% to 3.28 billion yuan.

Sumber : MT Newswires