Shanghai Composite down 1.10% at 2,811 points (Il Sole 24 Ore Radiocor) - Shanghai , 02 Sep - Chinese shares closed broadly lower retreating from Friday's gains and underperforming their Asian peers.

Property stocks sank in mainland dealings after a survey showed new home prices in August grew at their weakest pace this year.

Investors also digested mixed manufaturing data. China's Caixin/S&P Global manufacturing purchasing managers' index swung back to growth in August, rising to 50.4 in August from 49.8 in July, beating analysts' forecasts. Export orders however fell for the first time in eight months, weighing on sentiment.

Official purchasing managers' index data for August released over the weekend however showed that China's manufacturing PMI contracted for a fourth straight month in August.

The Shanghai Composite closed down 1.10% at 2,811 points while the Shenzhen CSI 300 fell 1.70% to 3,265 points.

Both indexes were down between 3% and 4% for August, leading the losses in the region for the month.

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(RADIOCOR) 02-09-24 11:04:38 (0214) 5 NNNN