China shares fall for second day to 34-month low

[Dhruv V Singh]

Jan 5 (Reuters) - China shares reversed early gains to close lower for a second-straight session on Thursday, the lowest level since March 2009, as investors unwound positions in growth-sensitive sectors after a survey suggested growth remained subdued in the mainland.

The HSBC China services purchasing managers index (PMI) for December, increasingly seen as a barometer of economic conditions in the mainland, failed to cheer investors after it pointed to sluggish growth in the sector.

The Shanghai Composite Index finished down 1 percent at 2,148.5 points, with Poly Real Estate and Anhui Conch Cement among its top drags.

Banks bucked the negative trend, with Shanghai Pudong Development Bank Co Ltd leading strong gains in the sector after it posted net profit in 2011 that rose 42.02 percent to 27.2 billion yuan ($4.32 billion).

Some investors bought into the sector, taking the report as a sign that concerns over bad debts could have been overblown. (Reporting by Clement Tan and Chen Yixin; Editing by Jacqueline Wong)

China shares fall for second day to 34-month low | Reuters

 

[SHAMK9]

daummm, u rlly hate china

 

[rcrmj]

it is actually a very good thing, we should focusing more on making stuff rather than speculating market to make money, since chinese domestic stock market isnt very well established the investment return in the market is not well regulated and assured.

years ago I'd been advising my close friends, relatives and families not to putting too much money on the stock market, even though they made loads of money from it, and now they realised that I was correct.