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Chinese Shares Fall as Factory Activity Disappoints; Advanced Micro-Fabrication Equipment China Down 8%

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Chinese shares were down on Monday as factory activity came lower than consensus estimates.

The Shanghai Composite Index, the main gauge of Chinese stocks, declined 0.3% to 4,057.74. The Shenzhen Component Index fell 1.5% to 15,340.36.

Factory activity in China was flat in May, with the official purchasing managers' index falling to a neutral 50 from 50.3 in April. The latest print marked the lowest in three months and came in lower than the 50.2 consensus estimate from Investing.com.

Meanwhile, services activity recovered in May, with the official non-purchasing managers' index rising to 50.1 from 49.4 in April. The latest reading in the index, which measures activity in the services and construction sectors, is higher than the 49.5 consensus estimate on Investing.com.

Advanced Micro-Fabrication Equipment China (SHA:688012) completed the acquisition of a 64.69% stake in Hangzhou Zhonggui Electronic Technology, moving forward with its share-and-cash acquisition plan. Shares of the chip gear maker closed 8% lower Monday.

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