China shares fall to four-week low on disappointing flash PMI

China shares fall to four-week low on disappointing flash PMI

HONG KONG - Chinese shares extended losses on Monday and ended at a four-week low after a private survey showed that growth in China's manufacturing activity slipped in December, pointing to a resilient but slowing economy.

China's flash Markit/HSBC Purchasing Managers' Index (PMI) eased to a 3-month low of 50.5 in December from November's final reading of 50.8, as reduced output offset a pick-up in new orders.

The Shanghai Composite Index fell 1.6 per cent to 2,160.86 points in a fifth straight daily loss, while the CSI300 of the leading Shanghai and Shenzhen A-share listings dropped 1.6 per cent. Both sank to their lowest since Nov. 15.

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