Slack property market takes toll on services

Main HSBC performance index for July ebbs to lowest point in 9 years

China's weakening property market took its toll on the nation's service sector, as a private gauge of service activity sank to a nine-year low.

The Purchasing Managers Index for the service sector, jointly released by HSBC Holdings Plc and Markit Ltd on Tuesday, fell to 50 in July from 53.1 in June, the lowest reading since November 2005 when the survey began.