At closing bell, the benchmark Shanghai Composite Index fell 0.36%, or 12.93 points, to 3,584.21. The Shenzhen Composite Index, which tracks stocks on China's second exchange, dropped 0.34%, or 8.26 points, to 2,392.64. The blue-chip CSI300 index declined 0.66%, or 34.68 points, to 5,255.29.
The best performing sectors in the Shanghai Stock Exchange were Computer & Electronic Equipment Dealer (up 6.64%), Vintners & Others (up 6.15%), Zone (up 5.15%), Property & Casualty Insurance (up 4.82%), and Soft Drinks (up 4.58%), while the worst performing sectors were Fiber and Resin (down 4.51%), Other Agriculture Products (down 3.86%), Health Care Services (down 3.33%), Household Products (down 3%), and Marine (down 2.83%).
The best performing sectors in the Shenzhen Stock Exchange were Education Services (up 5.11%), Communication Transmission Equipment (up 4.02%), Consumer Finance (up 3.47%), Packaged Foods & Meats (up 3.11%), and Publishing (up 2.24%), while the worst performing sectors were Soft Drinks (down 8.28%), Motorcycle (down 7.72%), Fiber and Resin (down 3.51%), Airlines (down 3.32%), and Internet Retail (down 3.14%).
The top performing blue chip stocks of the CSI300 index were Shanxi Xinghuacun Fen Wine Factory Co (up 3.81%), ZTE Corporation (up 6.64%), and Zhangzhou Pientzehuang Pharmaceutical Co (up 4.67%), while the worst performing blue chip stocks were China Merchants Bank Co (down 2.26%), Longi Green Energy Technology Co (down 4.53%), Midea Group CO (down 1.97%), Jiangsu Hengrui Medicine Co (down 2.1%), Tongwei Co (down 6.3%), Wanhua Chemical Group Co (down 2.85%), and Will Semiconductor Co (down 3.86%).
ECONOMIC NEWS: China Caixin Services PMI Decelerates in May- China's services Purchasing Managers' Index (PMI) fell to 55.1 in May, down from 56.3 in April but still well in expansionary territory, a private sector survey showed on Thursday. The 50-mark separates growth from contraction on a monthly basis. The survey attributed part of the slowing expansion to a fall in overseas demand as COVID cases abroad hurt business activity. A gauge of export orders slipped into contraction. Growth in total new orders slipped and services firms increased their staffing levels for the third straight month, but at a slower pace, the Caixin survey showed. Inflation pressures worsened with input costs rising at a sharper rate in May and reports of more expensive raw materials, energy, staff and transport, the survey found. The Caixin China General Composite PMI came in at 53.8 in May, weaker than 54.7 the previous month.
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