China CSI300 share index at 5-year closing low on slowdown fears

HONG KONG, March 10 Mon Mar 10, 2014 3:06am EDT

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HONG KONG, March 10 (Reuters) - China's CSI300 share index sank to a five-year closing low on Monday, dragged down by financials after tepid economic data reignited fears of a bigger slowdown in the world's second-largest economy.

The CSI300 of the largest Shanghai and Shenzhen A-share listings dived 3.3 percent, hitting its lowest close since Feb. 2, 2009. The Shanghai Composite Index ended down 2.9 percent at 1,999.1 points in its worst day since June 24.

The Nasdaq-style ChiNext Composite Index of mainly high tech startups listed in Shenzhen tumbled 3.7 percent.

China's consumer prices rose 2 percent in February from a year earlier, their slowest rate in 13 months as pork prices fell by their most in over a year, a sign that slowing growth rather than rising prices poses a risk.

Exports in February fell 18.1 percent from a year earlier, following a 10.6 percent rise in January, the General Administration of Customs said on Saturday. Imports rose 10.1 percent, yielding a trade deficit of $23 billion for the month versus a surplus of $32 billion in January. (Reporting by Clement Tan; Editing by Chris Gallagher)

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