August 21, 2014 / 7:10 AM / 3 years ago

China shares fall most in a week, manufacturing disappoints

HONG KONG, Aug 21 (Reuters) - 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. 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)

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