Stocks fall over weak  sentiment 
2019-09-24
Shanghai stocks tumbled yesterday, led by declines among new material and tourism companies. The Shanghai Composite Index lost 0.98 percent to close at 2,977.08 points.
Market sentiment remained weak as investors awaited the release of key economic data such as China’s manufacturing PMI for September. Japanese investment bank Nomura said it expects September’s official manufacturing PMI to remain in contractionary territory. 
New East New Materials Co Ltd fell 6.23 percent to 18.36 yuan (US$2.58) and Poten Environment Group Co Ltd lost 3.33 percent to 12.47 yuan.
Shares of automotive electronics companies performed well. Wuhan issued commercial licenses to Baidu, Haylion Technologies and DeepBlue Technology (Shanghai) Co to test autonomous vehicles. 
