China stocks extend losses on weak factory data

Mainland China's stock market slipped further into the sea of red on Tuesday, 1 September 2015, on intensifying concerns about the world's second largest economy after factory activity continued downtrend in August, touching a nadir since August 2012. Most of the blue-chip stocks declined, with stocks in the textile machinery, automobile manufacturing and the steel industry lost most. The Shanghai Composite Index was down 39.36 points, or 1.23%, to close at 3166.62. The Shenzhen Composite Index, which tracks stocks on China's second exchange, fell 4.61%, or 82.53 points, to 1707.78. The ChiNext Index, which tracks China's NASDAQ-style board of growth enterprises, lost 5.38%, or 107.37 points, to close at 1889.49.

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