Chinese stocks declined amid falling producer prices
Shanghai Composite index dropped by 0.42% to 2,943.75 points, while the CSI300 blue chip index dropped by 0.18% to 4,039.71 points.
Producer prices in China dropped to a maximum of 4 years in May, indicating pressure on the manufacturing sector due to the COVID-19 pandemic, which reduced trade flows and weakened global demand.
Financial sector sub-index fell 0.92 percent, the consumer goods sector dropped 0.21 percent, the real estate index declined 1.27 percent, and the health sector grew 1.77 percent.
The index of ChiNext Composite startups increased by 0.94%.
The decline was led by Shanghai Fengyuzhu Exhibition Co Ltd, Chengdu Xuguang Electronics Co Ltd and Tibet Rhodiola Pharmaceutical Holding Co., which lost 9.59%, 7.38% and 6.93% respectively.
The Hong Kong index dropped 0.03% to 25,049.73 points, while the Hang Seng China Enterprises index added 0.22% to 10,143.48 points.