BEIJING, April 23 China shares fell on
Wednesday, with sentiment bogged down by a preliminary survey
showing Chinese manufacturing activity contracted for a fourth
straight month in April.
The spectre of more listings also unnerved investors, who
fear more initial public offerings may lead to funds being
diverted from existing companies into new stocks.
The Shanghai Composite Index ended 0.3 percent lower
at 2,067.38 points. The CSI300 of the leading Shanghai
and Shenzhen A-share listings dropped 0.1 percent.
The HSBC/Markit flash Purchasing Managers Index (PMI) ticked
up to 48.3 in April, an improvement on March's final reading of
48.0, but still below the 50 line separating expansion from
Meanwhile, China's regulator posted draft IPO prospectuses
of a further 19 companies on its website on Tuesday night,
paving the way for a total of 65 firms to launch IPOs.
Shanghai's Free Trade Zone stocks saw some of the biggest
losses, as investors locked in gains from the previous day after
the city's municipal government published new regulations aimed
at facilitating commodities trading in the zone.
Shanghai Waigaoqiao Free Trade Zone Development Co Ltd
contracted 4.0 percent and Shanghai Lujiazui Finance
and Trade Zone Development Co Ltd lost 2.6 percent.
(Reporting By Natalie Thomas; Editing by Jacqueline Wong)