BEIJING, May 9 (Xinhua) -- Chinese shares ended a four-day winning streak on Thursday, as higher-than-expected inflation data triggered concerns about a tepid economic recovery.
The benchmark Shanghai Composite Index decreased 0.59 percent, or 13.33 points, to end at 2,232.97.
The Shenzhen Component Index lost 0.27 percent, or 24.76 points, to 9,050.08.
Combined turnover expanded to 201.57 billion yuan (32.51 billion U.S. dollars) from Wednesday's 177.83 billion yuan.
The National Bureau of Statistics (NBS) said Thursday that China's Consumer Price Index (CPI), a main gauge of inflation, accelerated from a month earlier to grow 2.4 percent in April.
The Producer Price Index (PPI), which measures wholesale inflation, fell 2.6 percent year on year in April, marking the 14th straight month of declines and the steepest drop in six months, as well as indicating continued weak market demand.
Construction material producers fell, as investors expected their profits would be hurt by less demand. Conch Cement Co., Ltd., China's leading cement producer, slumped 3.83 percent to 17.57 yuan. Huaxin Cement Co., Ltd. plummeted 4.97 percent to 13.57 yuan.
Coal producers edged down due to falling global commodity prices. China Shenhua Energy Co., Ltd., the nation's largest coal producer, lost 1.15 percent to 20.54 yuan. Shanxi Coal International Energy Group Co., Ltd. fell 4.98 percent to 14.69 yuan.
Gas producers rallied on price hike speculation. Shaanxi Provincial Natural Gas Co., Ltd. increased 3.33 percent to 10.56 yuan. Shenzhen Gas Corporation Ltd. added 3.81 percent to 9.53 yuan.
S China city looks like Venice after heavy downpour
Feedback
RSS
