Losses for China stocks

Food and beverage shares lead the drop with the petrochemical sector among other big losers as all three bourses report declines.

China stocks retreated on Wednesday after Monday's sharp run-up, with most industry sectors posting declines.

The Shanghai Composite Index lost 0.94 percent to close at 3,015.26 points. The smaller Shenzhen Component Index, meanwhile, tumbled by 1.32 percent to 9,419.84 points, and the blue chip CSI300 index ended 1.11 percent lower at 3,893.53 points.

The Caixin services PMI released today posted a drop in June to be the lowest since March, while the Caixin China Composite PMI, which covers both manufacturing and services, retreated 0.9 points to 50.6.

Food and beverage shares led the drop. Fujian Anjoy Foods Co, Jiangsu Hengshun Vinegar Co and Beijing Shunxin Agriculture Co all shed over 4 percent.

The petrochemical sector was also among the big decliners, with Tongkun Group Ko losing 6.63 percent and Hengyi Petrochemical Co down 5.79 percent.

Computer shares, the communication sector, electronic component firms and stocks related to rare earth permanent magnet all posted losses.

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