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China Daily Website

Stocks suffer worst losses in three weeks

Updated: 2013-05-14 19:56

The Shanghai Composite Index dropped 1.11 percent to 2,217.01, and the Shenzhen Component Index was down 2.28 percent to 8,809.08, their worst losses since April 23.

The drop in mainland stocks also dragged the Hong Kong stock market into the red. The Hang Seng China Enterprises Index closed at 22,924.74 on Tuesday, down 0.28 percent.

April's growth data, including industrial production and retail sales data, confirmed that China's slow and fragile growth recovery continued into the second quarter, said analysts.

Industrial output in April grew 9.3 percent in April year-on-year, and retail sales increased 12.8 percent year-on-year in the same month, according to the data released by the government.