China shares post biggest daily loss in 6 months

(Agencies) Updated: 2014-09-16 15:57

A woman scratches her head after paying close attention to stock information at a securities brokerage in Hangzhou, Zhejiang province on Sept 16, 2014. [Photo/Asianewsphoto]

HONG KONG - China shares had their worst day in more than six months on Tuesday, as investors continued to fret about weak economic data and started to worry about liquidity as a new batch of initial public offerings loomed.

Foreign direct investment in China in August fell to a low not seen in at least two and a half years, the Ministry of Commerce said on Tuesday, underscoring the growth challenges facing the world's second-biggest economy.

The Shanghai Composite Index ended down 1.8 percent to 2,297.00 points. The CSI300 of the leading Shanghai and Shenzhen A-share listings shed 2.0 percent to a two-week low.

Tuesday brought the biggest percentage-drops for both indexes since March 10.

Recent outperformers were among Tuesday's largest drags. SAIC Motor Corp, which last week hit its highest since February 2013, sank 4.6 percent. China Shipbuilding Industry dived 5.3 percent from this year's closing high.

Agricultural Bank of China advanced 0.8 percent after the major lender said late on Monday it received regulatory approval to issue preference shares.