China Stocks Dip Sharply on Weak Manufacturing Data

BEIJING, June 21 (Xinhua) -- China's stocks closed sharply lower midday Thursday dampened by the weaker-than-expected manufacturing activity.

The benchmark Shanghai Composite Index fell 35.5 points, or 1.55 percent, to close the midday day at 2,257.38 points.

The Shenzhen Component Index lost 1.91 percent, or 187.57 points, to 9,634.22 points.

HSBC Thursday released the China Purchasing Managers' Index (PMI) for manufacturing sector which slid to a seven month low of 48.1 in June. New export orders saw the biggest decline since March 2009.