Shanghai, Shenzhen stocks down on opening in June

Stock markets in the Chinese mainland began the first trading day in June in negative territory on Tuesday, weighed on by weak performance by real estate, IT, and food and beverage sectors.

The benchmark Shanghai Composite Index slid by 0.91 points or 0.04 percent to 2,038.31 points Tuesday. The Shenzhen Component Index fell by 43.31 points or 0.59 percent to 7,321.52 points.

Combined turnover on the two bourses on Tuesday was 140.61 billion yuan ($22.49 billion), down from Friday's 150.15 billion yuan.

Real estate, food and beverage, and IT sectors led the decline on Tuesday even after the country's manufacturing activity rose to a four-month high in May.

The HSBC/Markit manufacturing Purchasing Managers Index (PMI) reached 49.4 in May, up from 48.1 in April. It was still below the 50 line, which distinguishes growth and contraction.

Financial Street Holding Co dropped by 5.10 percent to 5.96 yuan and China Vanke Co fell by 1.75 percent to 8.40 yuan on Tuesday.

Inner Mongolia Yili Industrial Group slid by 7.75 percent to 31.32 yuan.

Meanwhile, shares linked to oil companies outperformed on Tuesday. Sinopec Shandong Taishan Petroleum Co and Hengyi Petrochemical Co soared by the daily limit of 10 percent to 7.72 yuan and 6.77 yuan, respectively.

ChiNext, China's NASDAQ-style board for high-tech and fast-growing start-ups listed in Shenzhen, rose by 1.50 points or 0.11 percent to 1,319.63 points on Tuesday.