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Market continues losing after inflation data
By Lydia Chen |
March 11, 2011, Friday
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Online Edition
Online Edition
SHANGHAI stock market extended yesterday's losses this morning as jittery investors remained cautious after China reported its inflation leveled off in February.
The consumer price inflation steadied at 4.9 percent in February, the same as in January, the National Bureau of Statistics said this morning. The figure is above analysts forecast who expected a lower inflation last month.
The February figure was the fifth time exceeding a 4 percent inflation target set by the central government for this year.
The Shanghai Composite Index shed 0.27 percent to 2,949.12. Turnover continued to get thinner to 76.09 billion yuan (US$11.58 billion) as investors choose to sit aside and wait to watch for any market changes.
Shipping manufacturing and cement makers paced the decline. A gauge that tracks shipping manufacturers showed the sector lost nearly 2 percent this morning, the most among all sectors.
The consumer price inflation steadied at 4.9 percent in February, the same as in January, the National Bureau of Statistics said this morning. The figure is above analysts forecast who expected a lower inflation last month.
The February figure was the fifth time exceeding a 4 percent inflation target set by the central government for this year.
The Shanghai Composite Index shed 0.27 percent to 2,949.12. Turnover continued to get thinner to 76.09 billion yuan (US$11.58 billion) as investors choose to sit aside and wait to watch for any market changes.
Shipping manufacturing and cement makers paced the decline. A gauge that tracks shipping manufacturers showed the sector lost nearly 2 percent this morning, the most among all sectors.
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