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People's Daily Online>>China Business

Chinese shares trim early losses at midday Monday

(Xinhua)

15:36, April 09, 2012

BEIJING, April 9 (Xinhua) -- Chinese shares narrowed early losses on Monday during the morning trade as investor sentiment improved after the initial jitter brought by a rebounding inflation in March.

The benchmark Shanghai Composite Index slipped 0.23 percent, or 5.41 points, to close the morning session at 2,301.14, after losing nearly 1 percent shortly after opening.

The Shenzhen Component Index added 3.88 points, or 0.04 percent, to finish at 9,790.07 at midday.

Consumer price index (CPI), a main gauge of inflation, expanded 3.6 percent year-on-year in March from 3.2 percent in February, the National Bureau of Statistics (NBS) said Monday.

In the first quarter, the inflation level climbed 3.8 percent in China, approaching the government's full-year control target of 4 percent, according to the NBS.

Also, the Producer Price Index (PPI), a main gauge of inflation at the wholesale level, fell 0.3 percent in March, the first monthly negative growth since December 2009, NBS data showed.

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