Shanghai Composite drops 0.36% from 3-year high

Mainland China share market closed down in volatile trade on Thursday, 13 November 2014, amid profit booking after hitting a fresh three-year high yesterday and as data today showed the nation's industrial output growth slowed in October. The benchmark Shanghai Composite Index, which tracks both A and B shares, closed at 2485.61, lower by 0.36% from yesterday's closure of 2494.48, the highest level since Nov. 15, 2011.

Industrial output in China rose 7.7% in October from a year earlier, slowing from an 8% on year increase in September, the National Bureau of Statistics (NBS) said on Thursday. On a month-to-month basis, industrial production increased 0.52% in October from September. In September, it climbed 0.91% from the preceding month.

Separately NBS data showed fixed-asset investment in nonrural areas rose 15.9% in the January-October period compared with the same period a year earlier, slower than the 16.1% increase recorded in the January-September period. Meanwhile retail sales rose 11.5% in October from a year earlier, slowing slightly from an increase of 11.6% on year in September.

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