China shares post first loss in 3 days, banks weak
HONG KONG, July 24 (Reuters) - China shares slipped for the first time in three days, dragged down by banks after a preliminary survey showed manufacturing activity in the mainland sank to an 11-month low in July.
The CSI300 of the leading Shanghai and Shenzhen A-share listings ended down 0.7 percent at 2,249.2 points, while the Shanghai Composite Index shed 0.5 percent.
Chinese banks were a key weakness, paring or reversing gains made on Tuesday on concerns of more fundraising in the sector after regulators approved a plan for China Merchants Bank to issue 3 billion new A-shares.
Further dimming sentiment, China's flash HSBC/Markit Purchasing Managers' Index fell to 47.7 this month from June's final reading of 48.2 as new orders faltered and a sub-index measuring employment sank to its weakest since March 2009.
(Reporting by Clement Tan; Editing by Jacqueline Wong)