Related News
Shanghai index dips on slowing consumer inflation
Online Edition
SHANGHAI stocks retreated this morning after data showed China’s consumer inflation eased in June as producer prices continued to drop.
The key Shanghai Composite Index lost 0.35 percent, or 7.13 points, to 2,056.89. Turnover was 48.6 billion yuan (US$7.8 billion) by the noon break.
China’s Consumer Price Index rose 2.3 percent year-on-year in June, slowing from a 2.5 percent rise in May, the National Bureau of Statistics said today.
The Producer Price Index, however, declined 1.1 percent year-on-year in June, the 28th straight month of decline, but slowing from a 1.4 percent decrease in May.
“The narrowing of PPI deflation is good news, suggesting China’s economy has bottomed out after months of decline and a moderate pickup of international commodity prices,” Zhu Haibin, chief China economist with JPMorgan, said in a note.
“Nonetheless, the problem of overcapacity in a number of sectors may exert a drag on PPI, resulting in the longest PPI deflation since 2000,” Zhu said.
Shenyin & Wanguo Securities said investors are taking a wait-and-see stance as uncertainty is growing ahead of pending second-quarter economic data and corporate earnings reports.
Media companies slumped. Zhejiang Daily Media Group fell 1.6 percent to 12.79 yuan. Chinese Universe Publishing and Media lost 2.8 percent to 13.75 yuan.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
