After an over one-percent lower opening, share prices on China's Shanghai and Shenzhen bourses rose quickly to recover morning loss by midday on Monday but the major indices later headed down and finally closed sharply lower as China's weak manufacturing activities in October triggered concerns over economic slowdown.
China's manufacturing purchasing managers' index (PMI) came in at 49.8 in October, unchanged from September, according to data released by the National Bureau of Statistics (NBS) and the China Federation of Logistics and Purchasing.
For the whole day, the benchmark Shanghai Composite Index went down 1.7 percent to end at 3,325.08 points. The Shenzhen Composite Index fell 1.33 percent to end at 1,987.97 points.
The index for small firms dropped 1.91 percent to end at 7,647.00 and the ChiNext Index lost 1.87 percent to end at 2,432.04. Combined turnover of the two bourses shrank to 744.34 billion yuan from 802.6 billion yuan on the previous trading day.
The majority of stocks closed lower on Monday, with the leading losers in shipbuilding, petroleum, internet, aviation, medical care, public transport, telecom operation, securities brokerage, property, software, nonferrous metals and media sectors.
On the stock index futures market, the IF November contract plunged 1.29 percent to end at 3,403.0, keeping a discount of 72.96 points to the underlying Hushen 300 Index, which tumbled 1.64 percent to end at 3,475.96. The SSE 50 November contract dropped 1.17 percent to end at 2,266.6, keeping a discount of 26.77 points to the underlying SSE 50 Index, which went down 1.42 percent to close at 2,280.09.
The CSI November contract fell 2.07 percent to end at 6,668.8, keeping a discount of 267.63 points to the underlying CSI 500 stock index, which decreased 2.1 percent to end at 6,936.43.
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