China’s
stocks fell for a second day after data showed inflation accelerated
more-than-estimated and producer prices extended declines.
The
Shanghai Composite Index dropped 0.4 percent as of 9:32 a.m. local
time. The benchmark gauge pared losses in the last half an hour of
trading on Wednesday on speculation state-backed funds were repeating a
recent pattern of intervening to prop up the market. The consumer-price
index rose 2.3 percent in February from a year earlier, the National
Bureau of Statistics said Thursday, compared with the forecast for a 1.8
percent gain. The producer-price index’s declines reached a record 48
months.
Source: Bloomberg
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