Shares fall on softer producer inflation

Source: Xinhua | 2017-04-13

SHANGHAI shares fell yesterday on the release of China’s softer producer inflation data for March.

The Shanghai Composite Index lost 0.46 percent to 3,273.83 points.

China’s producer inflation cooled for the first time in seven months in March as iron ore and coal prices fell. The Producer Price Index, measuring costs of goods at the factory gate, slightly eased the growth pace to rise 7.6 percent last month.

Most listed lenders fell after China’s banking regulator urged banks to do self-inspections on using loopholes to dodge rules, as part of efforts to cut leverage.

The Agricultural Bank of China fell 0.6 percent, and China Minsheng Banking Corp shed 0.48 percent.