The Shanghai Composite Index (SHCOMP) dropped for a sixth day, losing 0.7 percent to 2,395.06, the lowest level since Oct. 24. The CSI 300 Index fell 1 percent to 2,584.01.
Brokerages: Citic Securities Co. (600030 CH), China’s biggest listed brokerage, fell 3 percent to 11.19 yuan. Haitong Securities Co. (600837) (600837 CH) slid 5.2 percent to 8.23 yuan, the biggest loss since Nov. 16, 2010.
Shares worth 51 billion yuan ($8 billion) changed hands on the Shanghai stock market yesterday, about half of the average daily trading value of 103.7 billion yuan this year, according to data compiled by Bloomberg.
Industrial companies: Sany Heavy Industry Co. (600031) (600031 CH), the biggest Chinese machinery maker, retreated 1 percent to 13.62 yuan. Anhui Conch Cement Co. (600585 CH), China’s biggest cement maker, fell 2 percent to 16.90 yuan. Baoshan Iron & Steel Co. (600019 CH), the listed unit of China’s second-biggest steelmaker, slipped 0.8 percent to 5.03 yuan.
China’s manufacturing may contract this month by the most since March 2009. The reading of 48 reported by HSBC Holdings Plc and Markit Economics today compares with a final number of 51 last month. A number below 50 indicates a contraction.
Guangdong Electric Power Development Co. (000539) (000539 CH), the biggest power-plant operator in the southern Chinese province bordering Hong Kong, surged by the 10 percent daily limit to 5.09 yuan. The company said it plans to swap shares to obtain its parent’s electric and wind-power assets in a deal worth 7.5 billion yuan. The stock resumed trading today after it was halted on Sept. 6.
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