HONG KONG Aug 21 China shares posted their
worst daily loss in a week on Thursday after a preliminary
private survey showed growth in China's vast factory sector
slowed to a three-month low in August, reinforcing concerns
about increasing softness in the economy.
The HSBC/Markit Flash China Manufacturing Purchasing
Managers' Index (PMI) fell to 50.3 from July's 18-month high of
51.7, missing a Reuters forecast of 51.5.
The Shanghai Composite Index ended down 0.4 percent
at 2,230.46 points, while the CSI300 of the leading
Shanghai and Shenzhen A-share listings fell 0.5 percent.
China Shenhua Energy led losses among coal
producers, sliding 1.4 percent to its lowest since late July.
China's top economic planner has ordered local governments
to step up supervision of coal miners and to severely punish
those that produce beyond their approved capacity, as rising
oversupply pushed prices to a six-year low.
The recent outperforming media sector jumped again on
Thursday. People.cn surged the maximum allowed 10
percent, adding gains on the week to 30 percent.
Zhejiang Daily Media Group and Jiangsu Phoenix
Publishing & Media Corp also climbed by 10 percent
to their daily limit.
(Reporting by Grace Li; Editing by Jacqueline Wong)