Petrochem, food drag down shares 
2019-07-04
Chinese stocks retreated yesterday after Monday’s sharp run-up, with most industry sectors posting declines.
The Shanghai Composite Index lost 0.94 percent to close at 3,015.26 points. The smaller Shenzhen Component Index, meanwhile, tumbled by 1.32 percent to 9,419.84 points, and the blue-chip CSI300 index ended 1.11 percent lower at 3,893.53 points.
The Caixin services PMI posted a drop in June, while the Caixin China Composite PMI, which covers both manufacturing and services, retreated 0.9 points to 50.6.
Food and beverage shares led the drop. Fujian Anjoy Foods, Jiangsu Hengshun Vinegar and Beijing Shunxin Agriculture all shed over 4 percent. 
The petrochemical sector also declined with Tongkun Group Co losing 6.63 percent and Hengyi Petrochemical down 5.79 percent. Computer shares, electronic component firms and stocks related to rare earth all posted losses.
