Weak flash PMI tips China shares to worst day since March 28

HONG KONG (REUTERS) - China shares suffered their worst daily loss in nearly a month on Tuesday after a weak preliminary survey of manufacturing activity in April stoked fears that economic growth will remain sluggish in the second quarter.

The CSI300 of the leading Shanghai and Shenzhen A-share listings ended down 3.2 per cent, while the Shanghai Composite Index skidded 2.6 per cent to 2,184.5. For both, Tuesday was their worst daily loss since March 28.

The flash HSBC Purchasing Managers' Index for April fell to 50.5 in April from 51.6 in March. China's industry ministry said separately that companies had no strong desire to invest given weak demand and overcapacity.

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