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China shares fall after investment data disappoints
June 17, 2014 / 7:11 AM / 3 years ago

China shares fall after investment data disappoints

HONG KONG, June 17 (Reuters) - China shares fell on Tuesday after data showed the amount of new foreign direct investment (FDI) that China attracted in May shrank by the most in 16 months.

The Shanghai Composite Index slid 0.9 percent at 2,066.70 points, while the CSI300 of the leading Shanghai and Shenzhen A-share listings lost 1.0 percent. It was the biggest one-day loss for both indexes since May 19.

The financial sector was broadly weaker with banks being the biggest index drags. Industrial and Commercial Bank of China shed 1.3 percent and smaller Industrial Bank slumped 1.5 percent.

Brokerages also underperformed, with the two biggest listed players Citic Securities and Haitong Securities down 0.9 and 0.7 percent, respectively. Mainland media said securities firms are becoming targets for China’s anti-corruption watchdog.

Property giant China Vanke declined 1.7 percent to a three-week low after a drop of 2 percent on Monday, while Poly Real Estate Group was down 3.3 percent, ahead of Wednesday’s release of China’s May house-price figures. (Reporting by Grace Li; Editing by Richard Borsuk)

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