China stocks drop despite favorable economic data

BEIJING - Chinese stocks failed to extend a strong rebound the previous day on Thursday, although a survey showed the country's manufacturing activity expanded for the first time in more than a year.

The benchmark Shanghai Composite Index fell 0.72 percent, or 14.71 points, to 2,015.61. The Shenzhen Component Index closed at 8,047.52, down 103.32 points, or 1.27 percent.