Shanghai Composite dips below 2,000 to lowest in 5 1/2 months

HONG KONG Sun Jan 19, 2014 9:40pm EST

HONG KONG Jan 20 (Reuters) - The Shanghai Composite Index dipped below the key 2,000-point level early on Monday to its lowest in 5-1/2 months, led by financials but unmoved by data that showed China's annual growth came in slightly higher than expected.

At 0226 GMT, the Shanghai Composite Index was down 0.4 percent at 1,996.2 points, its lowest since July 31. The CSI300 of the largest Shanghai and Shenzhen A-shares listings was down 0.3 percent.

China's annual economic growth eased to 7.7 percent between October and December from 7.8 percent in the previous three months, slightly ahead of market expectations for growth of 7.6 percent, official data showed on Monday. (Reporting by Clement Tan; Editing by Paul Tait)