SHANGHAI: Chinese stocks fell on Tuesday, as sentiment took a hit after data showed China’s March consumer price growth was at its slowest since September 2021, while shares in Hong Kong were up.
China’s blue-chip CSI300 Index and the Shanghai Composite Index both closed down 0.1%.
Hong Kong’s benchmark Hang Seng Index and the China Enterprises Index rose 0.8% each.
China’s consumer inflation in March was at its slowest since September 2021, suggesting persistent demand weakness and potential for further policy stimulus. The reading was also below a Reuters poll estimate.
Meanwhile, producer deflation sped up, extending price declines for a sixth straight month.
China’s March inflation print indicates the world’s second-largest economy is running a disinflation process, analysts said.
The disinflationary pressure reflected slow consumption demand recovery amid a reopening and robust supply chain, analysts at Mizuho said in a note.
Back from Easter holidays, property stocks traded in Hong Kong rose 2.6%, with mainland property shares jumping 6.9%. Tech stocks closed up 0.3%, with Tencent down 2.3 percent.
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