China shares News

Battered by a late selling frenzy, the benchmark Shanghai Composite Index ended down 6.4 percent at 2749.79 points, its lowest close since Dec. 1, 2014.

Automobile sales and output in China both hit record highs in November as demand continued to soar after the government halved vehicle purchase tax in the world's largest auto market, industry data showed on Thursday.  

Global share markets have been hit by worries that the Chinese economy was growing at a much slower pace than Beijing`s 7 percent target for 2015.

Chinese shares plummeted on Monday, wiping out the year`s gains and leading a slump across Asian equities as Beijing`s latest market intervention failed to restore confidence, with concern mounting about the stalling economy.

Asian shares fell on Tuesday, with Shanghai leading the declines as investors doubted Beijing`s commitment to prop up shares while Bangkok slumped after a bomb attack in the Thai capital.

After a plunge of more than 8 percent in major indexes on Monday, Chinese regulators said they were prepared to buy shares to stabilise the stock market, while the central bank injected cash into money markets and hinted at further monetary easing.

The benchmark Shanghai Composite Index slid 3.26 percent, or 164.87 points, to 4,898.12.

Chinese shares closed higher Wednesday on the last trading day of 2014, with Shanghai finishing at a near five-year high on hopes of monetary easing after weak manufacturing data, dealers said.

Upcoming US indicators include the Case-Shiller price index on Tuesday, second-quarter GDP due on Wednesday and non-farm payrolls on Friday. Factory activity surveys for major Asian economies will also be released on Friday.