The Shanghai Composite Index slipped 0.1 percent to 2,050.73 at the close, after surging 2.1 percent yesterday for the biggest gain in seven weeks. Today��s data, combined with a report yesterday showing a drop in China��s broadest measure of new credit, signal the economy is losing momentum at a time when officials are reluctant to heed calls for monetary stimulus.
The CSI 300 Index slid 0.2 percent to 2,174.85. The Hang Seng China Enterprises Index added 0.3 percent. The Bloomberg China-US 55 Index surged 2.4 percent in New York yesterday after China��s cabinet said it will deepen reforms of capital markets including relaxing limits on foreign investment in listed companies.
Factory production expanded 8.7 percent last month, the National Bureau of Statistics said today, compared with the median estimate of analysts for 8.9 percent growth. Retail sales rose 11.9 percent in April, compared with the forecast for 12.2 percent growth. Fixed-asset investment for the first four months climbed 17.3 percent, compared with the estimate for 17.7 percent growth.
Source : Bloomberg