Shares fall on inflation data, gloomy economic outlook
Print Edition
SHANGHAI stocks dipped yesterday as China’s inflation rose while investors were gloomy over the economic outlook.
The Shanghai Composite Index lost 0.24 percent to 3,285.41 points. For the week, the index rose 1.57 percent, up for seven straight weeks.
China’s CPI rose to 1.5 percent in December from 1.4 percent in November.
CITIC Securities expects the Chinese economy to continue with its downward trend in 2015. There is speculation that the government will unveil fresh stimulus to lift economic growth, such as an interest rate cut in the first quarter of the year.
But Minsheng Securities cautioned that an easier monetary policy may not stimulate the cooling property market because of an oversupply in the sector.
Coal shares were hit ahead of initial public offerings next week.
Sdic Xinji Energy fell 5.76 percent to 6.71 yuan, Yanzhou Coal Mining shed 4.66 percent to 14.73 yuan and Yang Quan Coal Industry dropped 4.60 percent to close at 9.54 yuan.
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